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Switzerland’s laws, regulations and self-regulatory
standards on anti-money laundering, customer identification and the duty of
due diligence of financial intermediaries are of central importance to the
success of the Swiss financial center and have been progressively expanded
over the last decade to combat misuse of the Swiss financial system for money
laundering purposes.
Swiss anti-money laundering regime is based on three main
pillars:
-
a very broad
definition of laundering offences involving assets derived from any crime;
-
a system of
self-regulation in the financial sector (banking and non-banking), first
introduced as early as 1977, accompanied by governmental monitoring; and
-
a reporting
obligation that, since 1998, has required professional financial
intermediaries to report founded suspicions of money laundering.1
Applicable
law
Detailed information
Introduction
Swiss banking sector
Private life insurance sector
Casino sector
Directly subordinated financial intermediaries / non-banking sector
Frequently asked questions
Useful links
This site has been prepared by
Rebecca Brunner-Peters
Director
Legal & Compliance
Credit Suisse
P.O. Box
8070 Zurich
Switzerland
E-Mail:
rebecca.brunner@credit-suisse.com
1 This
“reporting obligation” enhances the “reporting right” introduced under the
Swiss Penal Code in 1994 to authorize financial intermediaries to report
cases of suspected money laundering to the appro-priate authorities.
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