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The anti-money laundering law must be revised so that Switzerland may leave the FATF’s enhanced follow-up process
In December 2016, the FATF issued the 4th mutual evaluation report on Switzerland, which recognises the good quality of its regime to fight money laundering and terrorism financing. In some areas however, it points out weaknesses in the rules or in the regime’s efficiency and expects improvements from Switzerland. By 13 votes to 12, the Legal Affairs Committee of the National Council refused to discuss a revision of the Anti-Money Laundering Act (AMLA), which could subject Switzerland to hefty critics.