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.
2025-07-26T02:15:00Z By Neil Hodge
Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
2025-07-25T23:17:00Z By Adrianne Appel
SEC Chair Paul Atkins is soliciting candidates for all five seats on the Public Company Accounting Oversight Board, he announced Wednesday.
2025-07-24T17:15:00Z By Ruth Prickett
The U.K. government promised to introduce Sustainability Reporting Standards in its manifesto. Almost a year after it came to power, it launched a consultation on June 25 on draft plans for these standards, which are largely based on those of the ISSB.
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