By Kyle Brasseur2023-09-05T19:22:00
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.
The changes, announced Aug. 30, would strengthen the existing Swiss anti-money laundering (AML) framework to account for the registering of beneficial ownership information, due diligence for consultancy activities and legal work, and cash payments in certain transactions. The consultation is being led by the Swiss Federal Council.
Feedback must be submitted by Nov. 29.
2023-08-31T14:05:00Z By Neil Hodge
Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
2022-07-01T17:58:00Z By Neil Hodge
Credit Suisse became the first major Swiss bank to be prosecuted for money laundering in the country after the Federal Criminal Court of Switzerland found the bank guilty of washing money connected to a Bulgarian drug smuggling syndicate.
2020-02-21T15:52:00Z By Jaclyn Jaeger
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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The Department of Health and Human Services is stepping up its enforcement against hospitals and other health entities that block the sharing of electronic health records.
2025-09-04T18:49:00Z By Ruth Prickett
The EU has one, the U.K. is getting one, many U.S. states are working with Google and Apple to provide one, and now industry sectors are developing their own digital wallet.
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The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
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