Swiss Bank MBaer at Risk of Losing US Financial Access

A Swiss private bank, MBaer Merchant Bank AG, faces potential exclusion from the US financial system due to alleged ties to illicit actors in Iran and Russia, per a February 2026 US Treasury announcement. The US Treasury’s Financial Crimes Enforcement Network proposed severing MBaer’s access, citing its financial support for entities linked to sanctioned regimes, marking a rare move against a Swiss institution. The action stems from MBaer’s suspected role in facilitating transactions for Iranian and Russian networks, violating US sanctions and anti-money laundering laws. If enforced, the ban would block MBaer from dollar-denominated transactions, crippling its global operations and isolating it from major financial markets. The proposal underscores escalating US scrutiny of European banks’ compliance with sanctions, signaling broader risks for institutions with exposure to high-risk jurisdictions.