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 29 Recommendations. It is remains partially compliant on 3 Recommendations.

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

19 Oct 2023

Switzerland has made progress in addressing the technical compliance deficiencies identified in the MER with respect to Recommendations 10 and 40.

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.

Ratings

Technical Compliance

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

C = compliant | LC = largely compliant | PC = partially compliant | NC = non-compliant | NA = not applicable

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.

Switzerland - Follow-Up Report 2023

missOrigin

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

Related publications

Switzerland's progress in strengthening measures to tackle money laundering and terrorist financing Switzerland has made progress in addressing the technical compliance deficiencies identified in the MER with respect to Recommendations 10 and 40.
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.
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
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.
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.
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.