12 Dec 2016
Switzerland’s anti-money laundering and counter-terrorist financing regime is overall technically robust and has achieved good results, according to an assessment by the Financial Action Task Force (FATF). However, it would still benefit from some improvements in order to be fully effective.
“Since its previous FATF assessment in 2005, Switzerland has strengthened its AML/CFT (anti-money laundering and counter-terrorist financing) regime,” the Paris-based intergovernmental body said in a statement on Wednesday.
“These efforts rest on a clear political will to promote the integrity of its financial centre. 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.”
Count this content towards your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet