By Neil Hodge2023-08-31T14:05:00
Switzerland’s Financial Market Supervisory Authority (FINMA) published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
The regulator reviewed the risk analyses of more than 30 banks in spring 2023. It found “a “large number (of banks) … did not meet the basic requirements for such an analysis.”
FINMA added even an adequate definition regarding risk tolerance around money laundering—the cornerstone for effective risk analysis—“was lacking in some cases.”
2024-01-26T11:52:00Z By Ruth Prickett
Bonus clawbacks, more fines, and a senior management regime that clearly identifies individual executives’ responsibilities for key governance areas are all options being considered by the Swiss Financial Market Supervisory Authority in response to the collapse of Credit Suisse.
2023-09-05T19:22:00Z By Kyle Brasseur
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
2023-08-29T12:39:00Z By Neil Hodge
Experts share differences of opinion over whether future anti-money laundering supervision in the United Kingdom should be industry specific and whether a single regulator would be more effective than multiple bodies.
2025-10-08T20:08:00Z By Ruth Prickett
Private companies that are keen to trade their shares but do not wish to become listed have gained another way to trade their shares. The U.K. government completed its initial review and published rules for the system in June.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
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