Switzerland: Consultation on draft amendments to anti-money laundering law
A consultation on draft amendments to the Swiss anti-money laundering law launched by the Swiss Federal Council
Consultation on draft amendments to anti-money laundering law
The Swiss Federal Council has launched a consultation on draft amendments to the Swiss anti-money laundering (AML) law.
The draft amendments include:
- Introduction of a federal transparency register (not open to the public) for legal entities (under Swiss law and certain categories under foreign law) and their beneficial owners (i.e., natural persons holding at least 25% or more of an entity’s capital shares or voting rights, or otherwise exercising control over the entity)
- Introduction of AML obligations for certain activities of non-financial professions (especially legal advice)
Various additional measures to strengthen the overall AML framework
Next steps
The consultation closes 29 November 2023, after which the amendments will be submitted to the Swiss parliament in 2024.
Read a November 2023 report prepared by the KPMG member firm in Switzerland
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