Fighting money laundering and terrorist financing

Switzerland attaches great importance to the integrity of its financial centre. It is engaged in developing standards aimed at fighting money laundering and terrorist financing at the international level and applies them consistently at the national level.

Combating money laundering and terrorist financing is crucial for the reputation of Switzerland’s financial centre. Switzerland would like to prevent funds obtained through illicit activities from being fed into the legal economy and keep terrorists from gaining access to funds. It is therefore actively involved in developing international standards in the areas of money laundering and terrorist financing, and implements them consistently. Swiss legislation is one of the world’s most far-reaching in that respect.

Engagement at the international level

At the multilateral level, Switzerland supports the fight against money laundering and terrorist financing primarily through its involvement in the Financial Action Task Force (FATF). Switzerland helped to shape the FATF’s 40 recommendations which form the internationally recognised standards in the areas of money laundering and terrorist financing. In addition, Switzerland ratified the International Convention for the Suppression of the Financing of Terrorism and brought it into force on 23 October 2003.

Fighting money laundering and terrorist financing at the national level

The Money Laundering Reporting Office Switzerland at the Federal Office of Police registers reports concerning financial intermediaries suspected of money laundering or terrorist financing and forwards them if need be to the law enforcement authorities. The Swiss Financial Market Supervisory Authority (FINMA) and the Federal Gaming Board monitor the financial intermediaries.