Integrity of the financial centre
Switzerland attaches great importance to a healthy financial centre and actively participates internationally in the fight against money laundering and terrorist financing. Over the past few decades, Switzerland has gradually established a robust and comprehensive system for combating money laundering and terrorist financing that combines preventive measures with repressive ones.
Switzerland actively participates internationally in the fight against money laundering and terrorist financing. In particular, it plays an active part in the Financial Action Task Force (FATF). The FATF regularly checks whether its member states are complying with the standards. Switzerland was evaluated for the fourth time in 2016. Although the FATF acknowledged the overall good quality of the Swiss system, it identified certain shortcomings and made corresponding recommendations.
Parliament adopted the amendment to the Anti-Money Laundering Act in March 2021. The aim of this revision is to implement some of the most important country report recommendations and to improve Switzerland's defence mechanism for money laundering and terrorist financing. The revision provides for measures for financial intermediaries in the areas of beneficial ownership, updating of client data and reports on suspected money laundering. Moreover, it promotes the transparency of associations and strengthens supervision and controls in the area of precious metals. The revised Anti-Money Laundering Act will enter into force on 1 January 2023.
Further information on the topic can be found on the website of the State Secretariat for International Finance SIF: