- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-09-05T19:22:00
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
The changes, announced Aug. 30, would strengthen the existing Swiss anti-money laundering (AML) framework to account for the registering of beneficial ownership information, due diligence for consultancy activities and legal work, and cash payments in certain transactions. The consultation is being led by the Swiss Federal Council.
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Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
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