| Each Member State shall be legally required to prepare a national risk assessment that outlines appropriate steps to identify, assess, understand and mitigate the risks of money laundering and terrorist financing affecting it. |
No. Absent from legal framework
(Absent from legal framework) |
| Member states shall be legally required to keep the national risk assessment up to date and review it at least every 4 years. |
No. Absent from legal framework
(Absent from legal framework) |
| Member states should legally designate an authority or mechanism to co-ordinate actions to assess risks. |
No. Absent from legal framework
(Absent from legal framework) |
| The following conduct, when committed intentionally, is punishable as a criminal offence: the conversion or transfer of property, knowing that such property is derived from criminal activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such an activity to evade the legal consequences of that person’s action; |
Yes. Art. 305bis
1. Any person who carries out an act that is aimed at frustrating the identification of the origin, the tracing or the forfeiture of assets which they know or must reasonably believe originate from a felony or aggravated tax misdemeanour shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.424
1bis. An aggravated tax misdemeanour is any of the offences set out in Article 186 of the Federal Act of 14 December 1990425 on Direct Federal Taxation and Article 59 paragraph 1 clause one of the Federal Act of 14 December 1990426 on the Harmonisation of Direct Federal Taxation at Cantonal and Communal Levels, if the tax evaded in any tax period exceeds 300 000 francs.
2. In serious cases, the penalty is a custodial sentence not exceeding five years or a monetary penalty.
A serious case is constituted, in particular, where the offender:
a.acts as a member of a criminal or terrorist organisation;
b.acts as a member of a group that has been formed for the purpose of the continued conduct of money laundering activities; or
c.achieves a large turnover or substantial profit through commercial money laundering.
3. The offender is also liable to the foregoing penalties where the main offence was committed abroad, provided such an offence is also liable to prosecution at the place of commission.430
(Art. 305bis from the Criminal Code of Switzerland) |
| The following conduct, when committed intentionally, is punishable as a criminal offence: the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property, knowing that such property is derived from criminal activity; |
Yes. Art. 305bis
1. Any person who carries out an act that is aimed at frustrating the identification of the origin, the tracing or the forfeiture of assets which they know or must reasonably believe originate from a felony or aggravated tax misdemeanour shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.424
1bis. An aggravated tax misdemeanour is any of the offences set out in Article 186 of the Federal Act of 14 December 1990425 on Direct Federal Taxation and Article 59 paragraph 1 clause one of the Federal Act of 14 December 1990426 on the Harmonisation of Direct Federal Taxation at Cantonal and Communal Levels, if the tax evaded in any tax period exceeds 300 000 francs.
2. In serious cases, the penalty is a custodial sentence not exceeding five years or a monetary penalty.
A serious case is constituted, in particular, where the offender:
a.acts as a member of a criminal or terrorist organisation;
b.acts as a member of a group that has been formed for the purpose of the continued conduct of money laundering activities; or
c.achieves a large turnover or substantial profit through commercial money laundering.
3. The offender is also liable to the foregoing penalties where the main offence was committed abroad, provided such an offence is also liable to prosecution at the place of commission.430
(Art. 305bis from the Criminal Code of Switzerland) |
| The following conduct, when committed intentionally, is punishable as a criminal offence: the acquisition, possession or use of property, knowing at the time of receipt, that such property was derived from criminal activity. |
Yes. Art. 305bis
1. Any person who carries out an act that is aimed at frustrating the identification of the origin, the tracing or the forfeiture of assets which they know or must reasonably believe originate from a felony or aggravated tax misdemeanour shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.424
1bis. An aggravated tax misdemeanour is any of the offences set out in Article 186 of the Federal Act of 14 December 1990425 on Direct Federal Taxation and Article 59 paragraph 1 clause one of the Federal Act of 14 December 1990426 on the Harmonisation of Direct Federal Taxation at Cantonal and Communal Levels, if the tax evaded in any tax period exceeds 300 000 francs.
2. In serious cases, the penalty is a custodial sentence not exceeding five years or a monetary penalty.
A serious case is constituted, in particular, where the offender:
a.acts as a member of a criminal or terrorist organisation;
b.acts as a member of a group that has been formed for the purpose of the continued conduct of money laundering activities; or
c.achieves a large turnover or substantial profit through commercial money laundering.
3. The offender is also liable to the foregoing penalties where the main offence was committed abroad, provided such an offence is also liable to prosecution at the place of commission.430
(Art. 305bis from the Criminal Code of Switzerland) |
| Aiding and abetting, inciting and attempting a money laundering offence is punishable as a criminal offence. |
Yes. 1 If, having embarked on committing a felony or misdemeanour, the offender does not complete the criminal act or if the result required to complete the act is not or cannot be achieved, the court may reduce the penalty.
2 If the offender fails to recognise through a serious lack of judgement that the act cannot under any circumstances be completed due to the nature of the objective or the means used to achieve it, no penalty is imposed. /// 1 Any person who has intentionally incited another to commit a felony or a misdemeanour, provided the offence is committed, incurs the same penalty as applies to the person who has committed the offence.
2 Any person who attempts to incite someone to commit a felony incurs the penalty applicable to an attempt to commit that felony. /// Any person who intentionally assists another to commit a felony or a misdemeanour shall be liable to a reduced penalty.
(Art. 22, 24 and 25 from the Criminal Code of Switzerland) |
| Money laundering offences are punishable by a maximum term of imprisonment of at least four years. |
Yes. Art. 305bis
1. Any person who carries out an act that is aimed at frustrating the identification of the origin, the tracing or the forfeiture of assets which they know or must reasonably believe originate from a felony or aggravated tax misdemeanour shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.424
1bis. An aggravated tax misdemeanour is any of the offences set out in Article 186 of the Federal Act of 14 December 1990425 on Direct Federal Taxation and Article 59 paragraph 1 clause one of the Federal Act of 14 December 1990426 on the Harmonisation of Direct Federal Taxation at Cantonal and Communal Levels, if the tax evaded in any tax period exceeds 300 000 francs.
2. In serious cases, the penalty is a custodial sentence not exceeding five years or a monetary penalty.
A serious case is constituted, in particular, where the offender:
a.acts as a member of a criminal or terrorist organisation;
b.acts as a member of a group that has been formed for the purpose of the continued conduct of money laundering activities; or
c.achieves a large turnover or substantial profit through commercial money laundering.
3. The offender is also liable to the foregoing penalties where the main offence was committed abroad, provided such an offence is also liable to prosecution at the place of commission.430
|
| A prior or simultaneous conviction for the criminal activity from which the property was derived is not a prerequisite for a conviction for money laundering offences |
Yes. Art. 305bis
1. Any person who carries out an act that is aimed at frustrating the identification of the origin, the tracing or the forfeiture of assets which they know or must reasonably believe originate from a felony or aggravated tax misdemeanour shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.424
1bis. An aggravated tax misdemeanour is any of the offences set out in Article 186 of the Federal Act of 14 December 1990425 on Direct Federal Taxation and Article 59 paragraph 1 clause one of the Federal Act of 14 December 1990426 on the Harmonisation of Direct Federal Taxation at Cantonal and Communal Levels, if the tax evaded in any tax period exceeds 300 000 francs.
2. In serious cases, the penalty is a custodial sentence not exceeding five years or a monetary penalty.
A serious case is constituted, in particular, where the offender:
a.acts as a member of a criminal or terrorist organisation;
b.acts as a member of a group that has been formed for the purpose of the continued conduct of money laundering activities; or
c.achieves a large turnover or substantial profit through commercial money laundering.
3. The offender is also liable to the foregoing penalties where the main offence was committed abroad, provided such an offence is also liable to prosecution at the place of commission.430
(Art. 305bis from the Criminal Code of Switzerland) |
| A conviction for money laundering offences is possible where it is established that the property was derived from a criminal activity, without it being necessary to establish all the factual elements or all circumstances relating to that criminal activity, including the identity of the perpetrator; |
Yes. Art. 305bis
1. Any person who carries out an act that is aimed at frustrating the identification of the origin, the tracing or the forfeiture of assets which they know or must reasonably believe originate from a felony or aggravated tax misdemeanour shall be liable to a custodial sentence not exceeding three years or to a monetary penalty.424
1bis. An aggravated tax misdemeanour is any of the offences set out in Article 186 of the Federal Act of 14 December 1990425 on Direct Federal Taxation and Article 59 paragraph 1 clause one of the Federal Act of 14 December 1990426 on the Harmonisation of Direct Federal Taxation at Cantonal and Communal Levels, if the tax evaded in any tax period exceeds 300 000 francs.
2. In serious cases, the penalty is a custodial sentence not exceeding five years or a monetary penalty.
A serious case is constituted, in particular, where the offender:
a.acts as a member of a criminal or terrorist organisation;
b.acts as a member of a group that has been formed for the purpose of the continued conduct of money laundering activities; or
c.achieves a large turnover or substantial profit through commercial money laundering.
3. The offender is also liable to the foregoing penalties where the main offence was committed abroad, provided such an offence is also liable to prosecution at the place of commission.430
(Art. 305bis from the Criminal Code of Switzerland) |
| Legal persons can be held liable for the breaches of Regulation (EU) 2024/1624 or Regulation (EU) 2023/1113 committed on their behalf or for their benefit by any person, acting individually or as part of a body of that legal person and having a leading position within that legal person, based on any of the following: a power to represent the legal person; an authority to take decisions on behalf of the legal person; an authority to exercise control within the legal person. |
Yes. 1 If a felony or misdemeanour is committed in an undertaking in the exercise of commercial activities in accordance with the objects of the undertaking and if it is not possible to attribute this act to any specific natural person due to the inadequate organisation of the undertaking, then the felony or misdemeanour is attributed to the undertaking. In such cases, the undertaking shall be liable to a fine not exceeding 5 million francs.
2 If the offence committed falls under Articles 260ter, 260quinquies, 305bis, 322ter, 322quinquies, 322septies paragraph 1 or 322octies, the undertaking is penalised irrespective of the criminal liability of any natural persons, provided the undertaking has failed to take all the reasonable organisational measures that are required in order to prevent such an offence.147
3 The court assesses the fine in particular in accordance with the seriousness of the offence, the seriousness of the organisational inadequacies and of the loss or damage caused and based on the economic ability of the undertaking to pay the fine.
4 Undertakings within the meaning of this title are:
a.
any legal entity under private law;
b.
any legal entity under public law with exception of local authorities;
c.
companies;
d.
sole proprietorships148.
(Art. 102 from the Criminal Code of Switzerland) |
| Legal persons can be held liable where the lack of supervision or control has made possible the commission of any money laundering offences for the benefit of that legal person by a person under its authority. |
Yes. 1 If a felony or misdemeanour is committed in an undertaking in the exercise of commercial activities in accordance with the objects of the undertaking and if it is not possible to attribute this act to any specific natural person due to the inadequate organisation of the undertaking, then the felony or misdemeanour is attributed to the undertaking. In such cases, the undertaking shall be liable to a fine not exceeding 5 million francs.
2 If the offence committed falls under Articles 260ter, 260quinquies, 305bis, 322ter, 322quinquies, 322septies paragraph 1 or 322octies, the undertaking is penalised irrespective of the criminal liability of any natural persons, provided the undertaking has failed to take all the reasonable organisational measures that are required in order to prevent such an offence.147
3 The court assesses the fine in particular in accordance with the seriousness of the offence, the seriousness of the organisational inadequacies and of the loss or damage caused and based on the economic ability of the undertaking to pay the fine.
4 Undertakings within the meaning of this title are:
a.
any legal entity under private law;
b.
any legal entity under public law with exception of local authorities;
c.
companies;
d.
sole proprietorships148.
(Art. 102 from the Criminal Code of Switzerland) |
| Legal persons held liable are punishable by criminal or non-criminal fines. |
Yes. 1 If a felony or misdemeanour is committed in an undertaking in the exercise of commercial activities in accordance with the objects of the undertaking and if it is not possible to attribute this act to any specific natural person due to the inadequate organisation of the undertaking, then the felony or misdemeanour is attributed to the undertaking. In such cases, the undertaking shall be liable to a fine not exceeding 5 million francs.
2 If the offence committed falls under Articles 260ter, 260quinquies, 305bis, 322ter, 322quinquies, 322septies paragraph 1 or 322octies, the undertaking is penalised irrespective of the criminal liability of any natural persons, provided the undertaking has failed to take all the reasonable organisational measures that are required in order to prevent such an offence.147
3 The court assesses the fine in particular in accordance with the seriousness of the offence, the seriousness of the organisational inadequacies and of the loss or damage caused and based on the economic ability of the undertaking to pay the fine.
4 Undertakings within the meaning of this title are:
a.
any legal entity under private law;
b.
any legal entity under public law with exception of local authorities;
c.
companies;
d.
sole proprietorships148.
(Art. 102 from the Criminal Code of Switzerland) |
| Legal persons held liable are punishable by other sanctions, such as: exclusion from entitlement to public benefits or aid; temporary or permanent exclusion from access to public funding, including tender procedures, grants and concessions; temporary or permanent disqualification from the practice of commercial activities; placing under judicial supervision; a judicial winding-up order; temporary or permanent closure of establishments which have been used for committing the offence. |
No. Absent from legal framework
(Absent from legal framework) |
| In the event of a breach of Regulations (EU) 2024/1624 and (EU) 2023/1113, where obligations apply to legal persons, pecuniary sanctions can be imposed and administrative measures can be applied not only to the legal person, but also to the senior management and to other natural persons who under national law are responsible for the breach. |
Yes. Art. 38 Violation of the duty to verify
1 Any dealer that wilfully violates the duty under Article 15 to appoint an audit firm shall be liable to a fine not exceeding 100,000 francs.
2 If the dealer acts through negligence, it shall be liable to a fine not exceeding 10,000 francs.
(Art. 38 of the Federal Act
on Combating Money Laundering and
Terrorist Financing) |
| Pecuniary sanctions shall be imposed on obliged entities for serious, repeated or systematic breaches, whether committed intentionally or negligently, of the requirements laid down in the following provisions of Regulation (EU) 2024/1624: Chapter II (Internal policies, procedures and controls of obliged entities); Chapter III (Customer due diligence); Chapter V (Reporting obligations); Article 77 (Record retention). |
Yes. Art. 37 Violation of the duty to report
1 Any person who fails to comply with the duty to report in terms of Article 9 shall be liable to a fine not exceeding 500,000 francs.
2 If the offender acts through negligence, he or she shall be liable to a fine not exceeding 150,000 francs.
(Art. 37 of the Federal Act
on Combating Money Laundering and
Terrorist Financing) |
| Supervisors are able to apply administrative measures to an obliged entity, where they identify: breaches of Regulation (EU) 2024/1624 or Regulation (EU) 2023/1113, either in combination with pecuniary sanctions for serious, repeated and systematic breaches, or on their own; weaknesses in the internal policies, procedures and controls of the obliged entity that are likely to result in breaches of the requirements; that the obliged entity has internal policies, procedures and controls that are not commensurate with the risks of money laundering, its predicate offences or terrorist financing to which the entity is exposed. |
Yes. 1 Where a supervised person or entity violates the provisions of this Act or of a financial market act or if there are any other irregularities, FINMA shall ensure the restoration of compliance with the law.
2 Where the rights of clients appear to be jeopardised, FINMA may require the supervised persons or entities to provide collateral.66
Art. 32 Declaratory ruling and substitute performance67
1 Where the proceedings reveal that the supervised person or entity has seriously violated supervisory provisions, but there is no longer a need to order measures to restore compliance with the law, FINMA may issue a declaratory ruling.
2 If an enforceable ruling from FINMA is not observed within the set deadline after a prior warning, FINMA may perform the required act itself or have it performed at the expense of the defaulting party.68
Art. 33 Prohibition from practising a profession
1 If FINMA detects a serious violation of supervisory provisions, it may prohibit the person responsible from acting in a management capacity at any person or entity subject to its supervision.
2 The prohibition from practising a profession may be imposed for a period of up to five years.
Art. 33a Prohibition from performing an activity
1 Where the following persons seriously violate the provisions of the financial market acts, the implementing provisions or in-house directives, FINMA may prohibit such persons from trading in financial instruments or acting as a client adviser for a fixed period, or permanently in the case of repeated offences:
a. employees of a supervised entity responsible for trading in financial instruments;
b. employees of a supervised entity acting as client advisers.
2 If the prohibited activity also covers an activity in an area under the supervision of another supervisory authority, this authority is to be consulted and informed of the decision.
Art. 34 Publication of the supervisory ruling
1 Where there is a serious violation of supervisory provisions, FINMA may publish in electronic or printed form its final ruling once it takes full legal effect, and disclose the relevant personal data.
2 Notice of publication must be contained in the ruling itself.
Art. 35 Confiscation
1 FINMA may confiscate any profit that a supervised person or entity or a responsible person in a management position has made through a serious violation of the supervisory provisions.
2 The foregoing provision applies by analogy if a supervised person or entity or a responsible person in a management position has prevented a loss through a serious violation of supervisory provisions.
3 Where the extent of the assets to be confiscated cannot be ascertained or requires a disproportionate effort to be ascertained, FINMA may make an estimate.
4 The right to confiscate prescribes after seven years.
5 Criminal law confiscation under Articles 70–72 of the Criminal Code70 takes precedence over confiscation under this provision.
6 The confiscated assets go to the Confederation unless they are paid to the parties suffering loss.
Art. 36 Investigating agents
1 FINMA may appoint an independent and suitably-qualified person to investigate circumstances relevant for supervisory purposes at a supervised person or entity or to implement supervisory measures that it has ordered (an investigating agent).
2 It specifies the duties of the investigating agent in the appointment order. It determines the extent to which the investigating agent may act in the place of the management bodies of the supervised person or entity.
3 The supervised person or entity must allow the investigating agent access to its premises and provide him or her with all the information and documents that the investigating agent requires to fulfil his or her duties.
4 The costs of the investigating agent are borne by the supervised person or entity. It must if so instructed by FINMA make an advance payment to cover costs.
(Art. 31-36 of the Federal Act
on the Swiss Financial Market Supervisory Authority) |
| Where obliged entities fail to comply with administrative measures applied by the supervisor within the applicable deadlines, supervisors are able to impose periodic penalty payments in order to compel compliance with those administrative measures. |
No. Absent from legal framework
(Absent from legal framework) |
| Supervisors are required to publish on their website, in an accessible format, decisions imposing pecuniary sanctions, applying administrative measures or imposing periodic penalty payments. |
No. Publication is not mandatory, but one of the possible sanctions
(Art. 34 of the Federal Act
on the Swiss Financial Market Supervisory Authority) |
Beneficial ownership of legal persons and legal arrangements |
| Beneficial ownership information must be held in a central register in the Member State where the legal entity is created or where the trustee of an express trust or person holding an equivalent position in a similar legal arrangement is established or resides, or from where the legal arrangement is administered. |
Yes. 1 The transparency register is maintained by the Federal Office of Justice (FOJ).
2. It is kept in electronic form.
(Art. 20 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Member States shall ensure that the entities in charge of the central registers are empowered to request from legal entities, trustees of any express trust and persons holding an equivalent position in a similar legal arrangement, and their legal and beneficial owners, any information necessary to identify and verify their beneficial owners, including resolutions of the board of directors and minutes of their meetings, partnership agreements, trust deeds, power of attorney or other contractual agreements and documentation. |
Yes. 3. The registering authority checks whether the legal entities subject to this law have submitted the required notifications. It requests the legal entities to submit the required notifications or to provide the necessary additional information or supporting documents for verification. It sets a reasonable deadline for them and points out the consequences of failing to comply with the notification obligation.
(Art. 33.3 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Where no person is identified as the beneficial owner, the central register shall include:
(a) a statement that there is no beneficial owner or that the beneficial owners could not be determined, accompanied by a corresponding justification
(b) the details of all natural persons who hold the position of senior managing officials in the legal entity equivalent to the following information: all names and surnames, place and full date of birth, residential address, country of residence and nationality or nationalities of the beneficial owner, number of identity document, such as passport or national identity document, and, where it exists, unique personal identification number assigned to the person by his or her country of usual residence, and general description of the source of such number |
Yes. 2 If no person meets the criteria of paragraph 1, the highest-ranking member of the governing body shall be deemed, subsidiarily, to be the beneficial owner.
(Art. 4.2. of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Entities in charge of the central registers are required to verify, within a reasonable time upon submission of the beneficial ownership information, and on a regular basis thereafter, that such information is adequate, accurate and up to date. |
Yes. 3. The registering authority checks whether the legal entities subject to this law have submitted the required notifications. It requests the legal entities to submit the required notifications or to provide the necessary additional information or supporting documents for verification. It sets a reasonable deadline for them and points out the consequences of failing to comply with the notification obligation. /// 1 The supervisory authority carries out checks on the accuracy, completeness and timeliness of the information in the transparency register.
2. It shall carry out checks on the basis of a risk-based approach or on a random sample basis, taking into account the categorization of legal entities pursuant to Article 39(2)(b).
3. It may have individual control activities carried out by third parties.
(Art. 33.3 and 35 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Competent authorities, if appropriate and to the extent that such requirement does not interfere unnecessarily with their functions, are required to report to the entities in charge of the central registers any discrepancies they find between information available in the central registers and the information available to them. |
Yes. The registering authority shall make a note in the entry of a legal entity in the following cases:
a.
She receives a notification from a financial intermediary or authority;
b.
The legal entity did not comply with a request;
c.
The legal entity has stated that it has not been able to identify the beneficial owner or to verify their identity or their status as a beneficial owner.
2. This note indicates that there are doubts about the accuracy, completeness, or timeliness of information in the transparency register. If it is based on a notification, it includes the date, the author, and the justification in a standardized format.
3. The legal entity is informed of the entry. The registering authority requests it to correct or supplement the information and sets a reasonable deadline for doing so.
4 The registering authority shall retain the additional information contained in a notification of a difference and enable the control body and third parties appointed by it to access this additional information online.
(Art. 34 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| The information contained in the central registers must include any change to the beneficial ownership of legal entities and legal arrangements and to nominee arrangements, following their first recording in the central register. |
Yes. 1 The Transparency Register contains the information pursuant to Articles 9–11 and 17 as well as the information entered ex officio.
2. The Federal Council may provide that further information necessary for processing notifications under Articles 30 and 31 or for carrying out audits be entered in the Transparency Register. It may provide that the Transparency Register contains information transmitted by the commercial register authorities, including information transmitted automatically.
3. Changes to the transparency register must be chronologically traceable. Article 46, paragraph 2 remains reserved.
(Art. 21 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| The entity in charge of the central register is empowered, whether directly or by application to another authority, including judicial authorities, to carry out checks, including on-site inspections at the business premises or registered office of legal entities, in order to establish the current beneficial ownership of the entity and to verify that the information submitted to the central register is accurate, adequate and up-to-date. |
Yes. 1 The control body carries out a preliminary check of the entries that have been marked in accordance with Article 34 and then decides whether:
a.
The entry will be deleted if a summary review of the information available to them shows that the entry is not justified;
b.
the entry remains in place if the available information is insufficient to justify initiating a control procedure; or
c.
A control procedure will be initiated.
2. As part of checks based on a note, it can access the following information systems online:
a.
the national police index pursuant to Article 17 of the Federal Act of 13 June 2008 45 on the federal police information systems;
b.
the official extract 2 from the criminal record for authorities pursuant to the Criminal Record Act of 17 June 2016 46 ;
c.
the information system pursuant to Article 1 of the Federal Act of 20 June 2003 47 on the information system for the foreigners and asylum sector.
3 Access to the information systems referred to in paragraph 2 may only be used with regard to the following persons:
a.
the beneficial owner registered in the transparency register;
b.
a person notified as a beneficial owner in accordance with Article 30 or 31;
c.
an organ, a shareholder, a partner of a legal entity or a person who is part of the control chain of a legal entity.
4. The legal entity or the registered beneficial owner may request the deletion of the entry from the supervisory authority at any time. The supervisory authority shall grant the request if sufficient evidence is provided to demonstrate the accuracy, completeness, and timeliness of the information contained in the transparency register.
5. After completion of the control procedure, the control body shall, in addition to ordering the measures pursuant to Article 38, decide on the retention, amendment or deletion of the endorsement.
6. The financial intermediary or authority that reported a discrepancy that triggered the control procedure will be informed of the outcome of the procedure. This information may be provided electronically.
(Art. 36 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Where verification leads an entity in charge of a central register to conclude that there are inconsistencies or errors in the beneficial ownership information, the entity in charge of a central register is able to withhold or refuse to issue a valid certificate of proof of registration, or to suspend the validity of an existing certification of proof of registration. |
Yes. 1. If the supervisory authority determines that information in the transparency register is incorrect, incomplete, or outdated, it shall take the measures necessary to restore the correct state. In particular, it may:
a.
The legal entity is obligated to submit additional information to the transparency register;
b.
to amend or delete information from the transparency register;
c.
stipulate that the result of the audit be recorded in the transparency register.
2. If the reporting obligations are repeatedly violated or if a violation is not remedied despite repeated requests, the supervisory authority may suspend the participation and asset rights of the shareholder or partner concerned.
3. If the reporting obligations are repeatedly violated, or if a violation is not remedied despite repeated requests, and the circumstances justify it, in particular because the legal entity obviously no longer has any business activity or usable assets, the supervisory authority may:
a.
order the dissolution and liquidation of the legal entity in accordance with the regulations on bankruptcy;
b.
In the case of legal entities under foreign law that have a branch: order the deletion of the entry of this branch from the commercial register.
4. The registered beneficial owner and the legal entity may assert their claims for rectification or erasure of their data in the transparency register with the supervisory authority. The supervisory authority decides on the retention, amendment, or erasure of the contested information.
(Art. 38 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| The entity in charge of the central register is empowered to, whether directly or by application to another authority, including judicial authorities, apply effective, proportionate and dissuasive measures or impose such pecuniary sanctions for failures, including of a repeated nature, to provide the central register with accurate, adequate and up-to-date information about their beneficial ownership. |
Yes. 1. If the supervisory authority determines that information in the transparency register is incorrect, incomplete, or outdated, it shall take the measures necessary to restore the correct state. In particular, it may:
a.
The legal entity is obligated to submit additional information to the transparency register;
b.
to amend or delete information from the transparency register;
c.
stipulate that the result of the audit be recorded in the transparency register.
2. If the reporting obligations are repeatedly violated or if a violation is not remedied despite repeated requests, the supervisory authority may suspend the participation and asset rights of the shareholder or partner concerned.
3. If the reporting obligations are repeatedly violated, or if a violation is not remedied despite repeated requests, and the circumstances justify it, in particular because the legal entity obviously no longer has any business activity or usable assets, the supervisory authority may:
a.
order the dissolution and liquidation of the legal entity in accordance with the regulations on bankruptcy;
b.
In the case of legal entities under foreign law that have a branch: order the deletion of the entry of this branch from the commercial register.
4. The registered beneficial owner and the legal entity may assert their claims for rectification or erasure of their data in the transparency register with the supervisory authority. The supervisory authority decides on the retention, amendment, or erasure of the contested information.
(Art. 38 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Competent authorities have immediate, unfiltered, direct and free access to the information held in the interconnected central registers without alerting the legal entity or legal arrangement concerned. These competent authorities include: self-regulatory bodies in the performance of supervisory functions of AML rules; tax authorities; national authorities with designated responsibilities for the implementation of Union restrictive measures; AMLA for the purposes of joint analyses; EPPO; OLAF; Europol and Eurojust when providing operational support to the competent authorities of Member States. |
Yes. 1. The supervisory authority and the third parties it commissions may access all data from the transparency register online when fulfilling their tasks under this Act.
2 The supervisory authority shall ensure that the third parties it engages comply with the applicable data protection regulations. /// 1 The following authorities can access all data from the transparency register online:
a.
the federal and cantonal police, administrative and criminal authorities in the prosecution of criminal offenses in accordance with the Code of Criminal Procedure 9 , the Federal Act of 22 March 1974 10 on Administrative Criminal Law (VStrR), the Federal Act of 7 October 1994 11 on the Federal Criminal Police Offices and Joint Centers for Police and Customs Cooperation with other States, the Federal Act of 14 December 1990 12 on Direct Federal Tax, the Tax Harmonisation Act of 14 December 1990 13 and the cantonal laws implementing it;
b.
the money laundering reporting office in the performance of its tasks in accordance with the Money Laundering Act 14 ;
c.
The competent authorities in the area of administrative assistance in tax matters, for responding to requests for administrative assistance from other states and for fulfilling Switzerland's obligations in this area, apply:
1.
of international agreements,
2.
of the Federal Act of 18 December 2015 15 on the international automatic exchange of information in tax matters,
3.
of the Federal Act of 16 June 2017 16 on the international automatic exchange of country-by-country reports by multinational corporations,
4.
of the Tax Administrative Assistance Act of 28 September 2012 17 ;
d.
the control bodies established pursuant to the regulations relating to the Embargo Act of 22 March 2002 18 , for the implementation of the measures based on this Act;
and.
the enforcement authorities of the Federal Act of 18 December 2015 19 on the freezing and restitution of unlawfully acquired assets of foreign politically exposed persons in the performance of their duties under this Act.
2 The following authorities may access data from the Transparency Register online, excluding data deleted pursuant to Article 24:
a.
the administrative supervisory authorities provided for in the Money Laundering Act (GwG), as well as the self-regulatory organizations and the supervisory organizations in fulfilling their tasks under this Act;
b.
the Federal Intelligence Service in fulfilling its tasks under the Goods Control Act of 13 December 1996 20 and the Intelligence Service Act of 25 September 2015 21 ;
c.
the land registry offices, the cantonal supervisory authorities and the federal supervisory authority in application of the provisions of the Civil Code (ZGB) 22 concerning real estate law;
d.
the enforcement authorities of the BewG 23 ;
and.
the Federal Office for Customs and Border Security for the licensing and control of authorized economic operators pursuant to Article 42a of the Customs Act of 18 March 2005 24 and for the application for and examination of security deposits pursuant to Article 14 of the Heavy Vehicle Charges Act of 19 December 1997 25 ;
f.
the Federal Office of Police in the performance of its duties under Article 6b letter a of the Identity Card Act of 22 June 2001 26 , Articles 24–24c of the Weapons Act of 20 June 1997 27 (WG) and Articles 9 and 14a of the Explosives Act of 25 March 1977 28 (SprstG);
g.
the competent cantonal authorities in fulfilling their tasks pursuant to Article 17 WG and Article 10 SprstG;
h.
the contracting authorities with regard to the examination or award of a public contract, if they are subject to the public procurement law of the federal government or the cantons;
i.
the administrative units of the federal government, the cantons or the municipalities that are responsible for reviewing and disbursing financial assistance and compensation;
j.
the competent implementing bodies of the old-age, survivors' and disability insurance, occupational pension schemes, including the BVG (Federal Law on Occupational Retirement Provision) substitute institution and the BVG security fund, the income replacement scheme, unemployment insurance, supplementary benefits, family allowances and accident insurance in the area of prevention, investigation and combating of insurance abuse, insurance fraud and undeclared work in application:
1.
of the Federal Act of 6 October 2000 29 on the General Part of Social Insurance Law,
2.
of the Federal Law of 20 December 1946 30 on Old Age and Survivors' Insurance,
3.
of the Federal Law of 19 June 1959 31 on Disability Insurance,
4.
of the Federal Act of 6 October 2006 32 on Supplementary Benefits to Old-Age, Survivors' and Disability Insurance,
5.
of the Federal Act of 25 June 1982 33 on occupational old-age, survivors' and disability insurance,
6.
of the Federal Act of 17 June 2005 against undeclared work, 34
7.
of the Federal Act of 20 March 1981 35 on accident insurance,
8.
of the Income Compensation Act of 25 September 1952 36 ,
9.
of the Family Allowances Act of 24 March 2006 37 ,
10.
of the Unemployment Insurance Act of 25 June 1982 38 .
3 The authorities referred to in paragraph 2 shall, on a reasoned request, receive an extract containing the deleted data in individual cases.
4 The Federal Statistical Office has, upon request, limited access to the data of the Transparency Register in the performance of its tasks under the Federal Statistics Act of 9 October 1992 39 and the Federal Act of 18 June 2010 40 on the company identification number.
(Art. 25 and 26 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Beneficial ownership information held in central registers may be made available to obliged entities upon payment of a fee, which shall be limited to what is strictly necessary to cover the costs of ensuring the quality of the information held in the central registers and of making the information available. Those fees shall be established in such a way as not to undermine effective access to the information held in the central registers. |
Yes. Financial intermediaries within the meaning of Article 2, paragraphs 2 and 3 of the Anti-Money Laundering Act (AML Act 41) , and advisors within the meaning of Article 2, paragraphs 3 bis and 3 ter of the AML Act, may access data from the Transparency Register online, excluding data deleted pursuant to Article 24 of this Act and information on the originators of a notification pursuant to Article 30 or 31 of this Act, insofar as this data is necessary for fulfilling the due diligence obligations under the AML Act. The use of this data is limited to this purpose.
(Art. 27 of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners) |
| Any natural or legal person that can demonstrate a legitimate interest in the prevention and combating of money laundering, its predicate offences and terrorist financing has access to the following information on beneficial owners of legal entities and legal arrangements held in the interconnected central registers, without alerting the legal entity or legal arrangement concerned:
the name of the beneficial owner; the month and year of birth of the beneficial owner; the country of residence and nationality or nationalities of the beneficial owner; for beneficial owners of legal entities, the nature and extent of the beneficial interest held; for beneficial owners of express trusts or similar legal arrangements, the nature of the beneficial interest. |
No. Absent from legal framework
(Absent from legal framework) |
| The following natural or legal persons shall be deemed to have a legitimate interest to access the information listed above: persons acting for the purpose of journalism, reporting or any other form of expression in the media, that are connected with the prevention or combating of money laundering, its predicate offences or terrorist financing; |
No. Absent from legal framework
(Absent from legal framework) |
| The following natural or legal persons shall be deemed to have a legitimate interest to access the information listed above: civil society organisations, including non-governmental organisations and academia, that are connected with the prevention or combating of money laundering, its predicate offences or terrorist financing; |
No. Absent from legal framework
(Absent from legal framework) |
| The following natural or legal persons shall be deemed to have a legitimate interest to access the information listed above: natural or legal persons likely to enter into a transaction with a legal entity or legal arrangement and who wish to prevent any link between such a transaction and money laundering, its predicate offences or terrorist financing; |
No. Absent from legal framework
(Absent from legal framework) |
| The following natural or legal persons shall be deemed to have a legitimate interest to access the information listed above: Member States’ public authorities in the context of public procurement procedures, in respect of the tenderers and operators being awarded the contract under the public procurement procedure; |
No. Absent from legal framework
(Absent from legal framework) |
| Member States shall ensure that the information provided by central registers does not lead to the identification of any person consulting the register where such persons are: persons acting for the purpose of journalism, reporting or any other form of expression in the media, that are connected with the prevention or combating of money laundering, its predicate offences or terrorist financing; |
No. Absent from legal framework
(Absent from legal framework) |
| Member States shall ensure that the information provided by central registers does not lead to the identification of any person consulting the register where such persons are: civil society organisations that are connected with the prevention or combating of money laundering, its predicate offences or terrorist financing. |
No. Absent from legal framework
(Absent from legal framework) |
| Where entities in charge of central registers decide to grant access to beneficial ownership information, they shall issue a certificate granting access for 3 years. Entities in charge of central registers shall respond to any subsequent request to access beneficial ownership information by the same person within 7 working days. |
No. Absent from legal framework
(Absent from legal framework) |
| Member States shall ensure that entities in charge of central registers shall only refuse a request to access beneficial ownership information on one of the following grounds: the applicant has not provided the necessary information or documents pursuant to paragraph 1; a legitimate interest to access beneficial ownership information has not been demonstrated; where on the basis of information in its possession, the entity in charge of the central register has a reasonable concern that the information will not be used for the purposes for which it was requested or that the information will be used for purposes that are not connected to the prevention of money laundering, its predicate offences or terrorist financing; one or more of the situations referred to in Article 15 applies; the legitimate interest to access beneficial ownership information granted by the central register of another Member State does not extend to the purposes for which the information is sought; where the applicant is in a third country and responding to the request to access information would not comply with the provisions of Chapter V of Regulation (EU) 2016/679. |
No. Absent from legal framework
(Absent from legal framework) |
| In exceptional circumstances to be laid down in national law, where the access to beneficial ownership information would expose the beneficial owner to disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation, or where the beneficial owner is a minor or otherwise legally incapable, Member States shall provide for an exemption from such access to all or part of the personal information on the beneficial owner. Member States shall ensure that such exemptions are granted on a case-by-case basis upon a detailed evaluation of the exceptional nature of the circumstances and confirmation that those disproportionate risks exist. The right to an administrative review of the decision granting an exemption and the right to an effective judicial remedy shall be guaranteed. |
No. Absent from legal framework
(Absent from legal framework) |
| Each Member State shall ensure that all obliged entities established in its territory are subject to adequate and effective supervision. To that end, each Member State shall appoint one or more supervisors to monitor effectively, and to take the measures necessary to ensure compliance by the obliged entities with Regulations (EU) 2024/1624 and (EU) 2023/1113. |
Yes. The following authorities and organisations shall supervise compliance by financial intermediaries with the duties set out in Chapter 2:88
a.89
for financial intermediaries under Article 2 paragraph 2 letters a to dquater, FINMA;
b.90
for financial intermediaries under Article 2 paragraph 2 letter e, the FGB;
bbis.91
for financial intermediaries under Article 2 paragraph 2 letter f: the Intercantonal Supervisory and Executive Authority under Article 105 of the GamblA92 (the intercantonal authority);
bter.93
for financial intermediaries under Article 2 paragraph 2 letter g: the Central Office for Precious Metals Control (the Central Office);
c.94
for financial intermediaries under Article 2 paragraph 3, the recognised self-regulatory organisations (Art. 24).
(Art. 12 of the Federal Act on Combating Money Laundering and Terrorist Financing") |
| Each Member State shall establish an FIU in order to prevent, detect and effectively combat money laundering and terrorist financing. |
Yes. 1 The Federal Office of Police141 shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office).
2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.142.
3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing.143
4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that:
a.144
an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC145 has been committed;
b.146
assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC;
c.147
assets are subject to the power of disposal of a criminal or terrorist organisation; or
d.
assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC).148
5 If it transmits the information reported by a financial intermediary under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC to a prosecution authority, it shall inform the financial intermediary thereof, provided the financial intermediary has not terminated the business relationship in accordance with Article 9b.149
(Art. 23 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
| The FIU as the central national unit shall be responsible for receiving and analysing suspicious transaction reports and other information relevant to money laundering, associated predicate offences or terrorist financing. |
Yes. 1 The Federal Office of Police141 shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office).
2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.142.
3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing.143
4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that:
a.144
an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC145 has been committed;
b.146
assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC;
c.147
assets are subject to the power of disposal of a criminal or terrorist organisation; or
d.
assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC).148
5 If it transmits the information reported by a financial intermediary under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC to a prosecution authority, it shall inform the financial intermediary thereof, provided the financial intermediary has not terminated the business relationship in accordance with Article 9b.149
(Art. 23 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
| The FIU shall be responsible for disseminating the results of its analyses and any additional relevant information to the competent authorities where there are grounds to suspect money laundering, associated predicate offences or terrorist financing. |
Yes. 1 The Federal Office of Police141 shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office).
2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.142.
3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing.143
4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that:
a.144
an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC145 has been committed;
b.146
assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC;
c.147
assets are subject to the power of disposal of a criminal or terrorist organisation; or
d.
assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC).148
5 If it transmits the information reported by a financial intermediary under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC to a prosecution authority, it shall inform the financial intermediary thereof, provided the financial intermediary has not terminated the business relationship in accordance with Article 9b.149
(Art. 23 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
| The FIU shall be operationally independent and autonomous, which means that the FIU shall have the authority and capacity to carry out its functions freely, including the ability to take autonomous decisions to analyse, request and disseminate specific information. It shall be free from any undue political, government or industry influence or interference. |
No. 1 The Federal Office of Police141 shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office).
2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.142.
3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing.143
4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that:
a.144
an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC145 has been committed;
b.146
assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC;
c.147
assets are subject to the power of disposal of a criminal or terrorist organisation; or
d.
assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC).148
5 If it transmits the information reported by a financial intermediary under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC to a prosecution authority, it shall inform the financial intermediary thereof, provided the financial intermediary has not terminated the business relationship in accordance with Article 9b.149
(Art. 23 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
| The FIU, regardless of their organisational status, is authorised to have access to the information that they require to fulfil their tasks, including financial, administrative and law enforcement information. |
Yes. 1 The Federal Office of Police141 shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office).
2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.142.
3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing.143
4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that:
a.144
an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC145 has been committed;
b.146
assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC;
c.147
assets are subject to the power of disposal of a criminal or terrorist organisation; or
d.
assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC).148
5 If it transmits the information reported by a financial intermediary under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC to a prosecution authority, it shall inform the financial intermediary thereof, provided the financial intermediary has not terminated the business relationship in accordance with Article 9b.149
(Art. 23 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
| FIUs are empowered to take urgent action, directly or indirectly, where there is a suspicion that a transaction is related to money laundering or terrorist financing, to suspend or withhold consent to that transaction. |
Yes. 1 The Federal Office of Police141 shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office).
2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.142.
3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing.143
4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that:
a.144
an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC145 has been committed;
b.146
assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC;
c.147
assets are subject to the power of disposal of a criminal or terrorist organisation; or
d.
assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC).148
5 If it transmits the information reported by a financial intermediary under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC to a prosecution authority, it shall inform the financial intermediary thereof, provided the financial intermediary has not terminated the business relationship in accordance with Article 9b.149
(Art. 23 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
Mutual legal assistance (MLA) and International Cooperation |
| Member States shall ensure that the FIU to whom the request is made is legally required to use the whole range of its available powers which it would normally use domestically for receiving and analysing information when it replies to a request for information from another FIU. |
Yes. Art. 30-32 of the AML Law regulate the cooperation with foreign authorities
(Art. 30-32 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
| Member States shall ensure that FIUs are legally required to exchange, spontaneously or upon request, any information that may be relevant for the processing or analysis of information by the FIU related to money laundering, its predicate offences, or terrorist financing, and the natural or legal person involved, regardless of the type of predicate offences that may be involved, and even if the type of predicate offences that may be involved is not identified at the time of the exchange. |
YEs. Art. 30-32 of the AML Law regulate the cooperation with foreign authorities
(Art. 30-32 of the Federal Act on Combating Money Laundering and Terrorist Financing) |
Switzerland
35(72) Political Financing 
10(57) Financial Disclosure 
24(49) Conflict of Interest 
61(59) Freedom of Information 
52(63) Public Procurement 
65(66) Anti Money Laundering 
60(71) Asset Recovery