The Humanitarian Fund for the Victims of the Holocaust was created by the Swiss Bankers Association (SBA) as a result of the "Meili Affair".
He discovered that officials at UBS were destroying documents about orphaned assets, believed to be credit balances of deceased Jewish clients, victims of the Holocaust, whose heirs' whereabouts were unknown, as well as books from the German Reichsbank.
[2] They listed real-estate records for Berlin property that had been seized by the Nazis, placed in Swiss accounts, and then claimed to be owned by UBS.
The Zürich authorities opened a judicial investigation against Meili[8] for suspected violations of the Swiss laws on banking secrecy,[9] which is a prosecutable offense ex officio in Switzerland.
[10] After Meili and his family reported receiving death threats they fled to the United States and were granted political asylum via private bill.
The organization and the fund were established as per settlement agreements with insurance companies and the German Foundation "Remembrance, Responsibility, and Future".
The ICHEIC in 2003 committed US$132 million received from the German "Remembrance, Responsibility, and Future" Foundation to fund social welfare benefits for needy victims of the Nazis.
The organization also created the ICHEIC Service Corps in 2003 to encourage university students to meet with local Holocaust survivors.