Switzerland

Member since 1990

Since the 2016 assessment of Switzerland’s measures to tackle money laundering and terrorist financing, the country has taken a number of actions to strengthen its framework.

Today Switzerland is rated compliant on 8 Recommendations and largely compliant on 27 Recommendations.  It is remains partially compliant on 5 Recommendations.

Switzerland’s progress in strengthening measures to tackle money laundering and terrorist financing

12 Feb 2020

Since its mutual evaluation in 2016, Switzerland has worked to improve the effectiveness of its national framework to combat money laundering and terrorist financing.
Read more

2016, the FATF completed an an assessment of Switzerland’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012 FATF Recommendations. This assessment reviews both the level of effectiveness of Switzerland’s AML/CFT regime  as well as its level of technical compliance with the FATF Recommendations. 

The assessment concluded that overall, Switzerland’s AML/CFT regime is technically robust and has achieved good results but that it would still benefit from some improvements in order to be fully effective. 

Since its previous FATF assessment in 2005, Switzerland has strenghtened its AML/CFT regime. These efforts rest on a clear political will to promote the integrity of its financial center. In line with this,  legal reforms have taken place in order to meet the requirements of the FATF Recommendation, and to address the significant money laundering risks that Switzerland faces.

Measures to combat money laundering and the financing of terrorism and proliferation in Switzerland

6 Dec 2016

Switzerland’s AML/CFT regime is technically robust and has achieved good results, but it would benefit from some improvements in order to be fully effective.
Read more
Mutual Evaluation of Switzerland - 2016

Ratings

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Switzerland - Follow-Up Report

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
C
R.8 - Non-profit organisations
LC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
PC
R.11 - Record keeping
C
R.12 - Politically exposed persons
LC
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
C
R.15 - New technologies
LC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
LC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
C
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
LC
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
LC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
LC
R.29 - Financial intelligence units
C
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
C
R.34 - Guidance and feedback
LC
R.35- Sanctions
PC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
PC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Switzerland - Mutual Evaluation

IO1
SE
IO2
ME
IO3
ME
IO4
ME
IO5
ME
IO6
SE
IO7
SE
IO8
SE
IO9
SE
IO10
SE
IO11
SE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

Other related content 

  • 12 Feb 2020

    Switzerland’s progress in strengthening measures to tackle money laundering and terrorist financing Since its mutual evaluation in 2016, Switzerland has worked to improve the effectiveness of its national framework to combat money laundering and terrorist financing.

  • 6 Dec 2016

    Measures to combat money laundering and the financing of terrorism and proliferation in Switzerland Switzerland’s AML/CFT regime is technically robust and has achieved good results, but it would benefit from some improvements in order to be fully effective.

  • 21 Oct 2016

    Outcomes of the Plenary meeting of the FATF, Paris, 19-21 October 2016 Under the Spanish Presidency of Mr. Vega-Serrano, delegates discussed the global response to terrorist financing, the decline of correspondent banking relationships, transparency and beneficial ownership. Delegates also discussed the assessments of measures to combat money laundering and terrorist financing in Switzerland and the United States. The Plenary issued a statement on Brazil's progress to address the serious deficiencies identified in its mutual evaluation reports, and the important issues that remain unresolved

  • 7 Nov 2011

    First Biennial Update to the Swiss Mutual Evaluation Report After the adoption of their Mutual Evaluation Report MER, FATF member countries are required to provide information on the measures that have been implemented to deal with the deficiencies identified in the report. Switzerland is subject to this process of providing a biennial update i.e. every two years to the FATF Plenary on any of the 40+9 Recommendations that are rated PC Partially Compliant or NC Non Compliant.

  • 27 Nov 2009

    Follow-up Report to the Mutual Evaluation of Switzerland This follow-up report provides an overview of the main changes made to the AML/CFT system in Switzerland since the adoption of the mutual evaluation report of Switzerland in June 2005. With this report, Switzerland has been removed from the regular follow-up process.

  • 14 Oct 2005

    Mutual Evaluation of Switzerland The FATF completed an assessment of the implementation of its anti-money laundering and counter-terrorist financing standards in Switzerland.

  • 1 Jul 1992

    FATF Annual Report 1991-1992 During the third Plenary year of the FATF, under the Swiss presidency, the FATF agreed on three main priorities that should guide its work.