الجمعة, أكتوبر 20th 2023
The world’s leading anti-money laundering and counter-terrorist financing body says Switzerland is making progress. Only three of a total of forty recommendations are classified as “partially compliant” – two fewer than three years ago.
The country evaluations of the Financial Action Taskforce (FATF) are considered a global standard, although they do not constitute directly binding law. More than 180 countries worldwide have committed themselves to adopting the FATF recommendations – including Switzerland.
The implementation of the FATF recommendations in national law is regularly reviewed and assessed by international experts. In the latest interim report published on Thursday, the experts attest to progress made by Switzerland in the fight against money laundering. The Federal Department of Finance speaks of an “important partial success”.
The main reason for this is the revision of the Money Laundering Act, which was adopted in March 2021. For six recommendations, including the one on customer due diligence, Switzerland was able to largely resolve the open points, thanks in particular to adjustments to the revised law.
Nevertheless, according to the FDF, further improvements are needed in some key points – particularly in the area of transparency of legal entities and in the area of advisory activities in connection with the structuring of companies and trusts. Most EU states already have a corresponding register.
At the end of August, the Federal Council sent a bill for the introduction of a register of beneficial owners as well as due diligence requirements for risky activities in legal professions for consultation. Finally, parliament will decide on the matter.
In total, the FATF report shows eight recommendations as “compliant”, 29 as “largely compliant” and three as “partially compliant”. In addition to due diligence, the latter include the areas of “sanctions” and “other measures”.
The next country audit of Switzerland by the FATF is expected in 2027/2028. Switzerland’s arrangements will be reassessed again and comprehensively.
©كيستون/إسدا
Arabic 
English 
German 
French 
Spanish