Combating financial market crime

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26.06.2019 - Switzerland is an active member of the Financial Action Task Force (FATF). The FATF is the most important international body for cooperation against money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.

The FATF regularly reviews its members' national regulations for implementing its recommendations, as well as their effectiveness. In the fourth mutual evaluation of December 2016, Switzerland fared well overall with its measures to combat money laundering and terrorist financing. Nevertheless, vulnerabilities were identified, and these have to be eliminated within three years. In order to take account of the country report's most important recommendations and increase the Swiss financial centre's integrity, the Federal Council defined the thrust of the follow-up work on the fourth FATF country report in June 2017. The consultation procedure on amendments to the Federal Act on Combating Money Laundering and the Financing of Terrorism ran from 1 June to 21 September 2018. On 26 June 2019, the Federal Council adopted the corresponding dispatch. Thereafter, Parliament will address the proposed measures.

Fact sheet

Further information

https://www.efd.admin.ch/content/efd/en/home/themen/wirtschaft--waehrung--finanzplatz/finanzmarktpolitik/combating-financial-market-crime.html