English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Section 1 Activities
Art. 3 Credit transactions
In particular, the following are not deemed to be credit transactions pursuant to Article 2 paragraph 3 letter a AMLA: a. borrowing; b. the granting of credit free of interest and fees; c. the granting of credit between a company and a shareholder, provided that the shareholder holds at least 10 per cent of the capital or voting rights in the company; d. the granting of credit between employers and employees, provided that the employer is obliged to pay social security contributions for the employees involved in the credit relationship; e. credit relationships between related parties (Art. 7 para. 5); f. the granting of credit that is accessory to another legal transaction; g. operating leasing; h. contingent liabilities in favour of third parties; i. commercial financing if its repayment is not made by the customer.
Art. 4 Services related to payment transactions
1 A payment transaction service within the meaning of Article 2 paragraph 3 letter b AMLA exists in particular if the financial intermediary: a. transfers liquid financial assets to a third party on behalf of its customer and thereby takes physical possession of these assets, has them credited to its own account or orders the transfer of the assets in the name and on behalf of the customer; b. assists in the transfer of virtual currencies to a third party, provided that it maintains a permanent business relationship with the customer or that it exercises power of disposal over virtual currencies on behalf of the customer, and it does not provide the service exclusively to appropriately supervised financial intermediaries; c. issues or administers means of payment other than cash which its customer uses to make payments to third parties; d. carries out the money or value transfer transaction. 1bis Means of payment other than cash include in particular: a. credit cards; b. travellers’ ch
Para. 1 let. d — Amended by No I 8 of the Ordinance of 18 June 2021 on the Adaptation of Federal Law to Developments in the Technology of Distributed Electronic Registers, in force since 1 Aug. 2021 (AS 2021 400). Para. 1bis let. c — Inserted by No I 8 of the Ordinance of 18 June 2021 on the Adaptation of Federal Law to Developments in the Technology of Distributed Electronic Registers, in force since 1 Aug. 2021 (AS 2021 400).
Art. 5 Trading activity
1 A trading activity within the meaning of Article 2 paragraph 3 letter c AMLA is deemed to be: a. the purchase and sale for the account of third parties of banknotes, coins, foreign exchange and banking precious metals as well as the exchange of money; b. trading for one’s own account coins and banknotes that are in circulation; c. trading in commodities on an exchange for the account of third parties; d. off-exchange trading in commodities for the account of third parties, provided that the commodities have such a high degree of standardisation that they can be liquidated at any time; e. trading for one’s own account in banking precious metals. 2 Trading in securities is only considered a trading activity if it requires an authorisation in accordance with the Financial Institutions Act of 15 June 2018 (FinIA). 3 Accessory currency exchange is not considered a trading activity.
Para. 2 — SR 954.1 Para. 2 — Amended by Annex 1 No II 12 of the Financial Institutions Ordinance of 6 Nov. 2019, in force since 1 Jan. 2020 (AS 2019 4633).
Art. 6 Other activities
1 The following activities are deemed to be activities within the meaning of Article 2 paragraph 3 letters f and g AMLA if they are carried out for the account of a third party: a. the management of securities and financial instruments; b. the execution of investment orders; c. the safekeeping of securities; d. the activity as a governing body of domiciliary companies. 2 For the purposes of this Ordinance, domiciliary companies are legal entities, companies, institutions, foundations, trusts, fiduciary undertakings and similar associations that do not engage in commercial or manufacturing business or other business conducted in a commercial manner. 3 Companies are not deemed to be domiciliary companies if: a. they have as their object the safeguarding of the interests of their members or their beneficiaries by mutual self-help or pursue political, religious, scientific, artistic, charitable, social or similar purposes; b. they hold a majority interest in one or more operationally activ
Para. 1 — Amended by Annex 1 No II 12 of the Financial Institutions Ordinance of 6 Nov. 2019, in force since 1 Jan. 2020 (AS 2019 4633).
Section 2 Professional Activity
Art. 7 General criteria
1 A financial intermediary carries on its business on a professional basis if it: a. thereby achieves gross proceeds of more than 50,000 francs per calendar year; b. enters into business relationships with more than 20 customers per calendar year that are not limited to a one-off activity, or maintains at least 20 such relationships per calendar year; c. has unlimited power of disposal over third-party assets that exceed 5 million francs in value at any given point in time; or d. carries out transactions whose total volume exceeds 2 million francs per calendar year. 2 For the calculation of the transaction volume in accordance with paragraph 1 letter d, inflows of assets and regroupings within the same custody account shall not be taken into account. In the case of bilaterally binding contracts, only the consideration provided by the customer shall be taken into account. 3 Activities for institutions and persons in accordance with Article 2 paragraph 4 AMLA shall not be taken into acco
Para. 5 let. e — SR 210
Art. 8 Credit transactions
1 Credit transactions in accordance with Article 2 paragraph 3 letter a AMLA are carried out on a professional basis if: a. gross proceeds of more than 250,000 francs are generated in the calendar year; and b. a credit volume of more than 5 million francs has been granted at any given point in time. 2 The gross proceeds of the credit transaction shall be deemed to be all income from credit transactions after deduction of the portion which serves as the credit repayment. 3 If a person engages in both credit transactions and another activity that qualifies him or her as a financial intermediary, the issue of a professional basis must be determined separately for each activity. If a professional basis applies to one activity, both activities are deemed to be carried out on a professional basis.
Art. 9 Transfer of money or value
The transfer of money or value is always considered to be carried out on a professional basis, unless the activity is carried out for a related person and gross proceeds of no more than 50,000 francs per calendar year are generated.
Art. 10 Trading activity
For trading activities, the criterion under Article 7 paragraph 1 letter a shall be assessed on the basis of gross profit instead of gross proceeds.
Art. 11 Change to an activity on a professional basis
1 Any person changing from a non-professional activity as a financial intermediary to an activity carried out on a professional basis as a financial intermediary in accordance with Article 2 paragraph 3 AMLA must: a. immediately comply with the duties under Articles 3-11 AMLA; and b. submit an application for affiliation to an SRO within two months of the change. 2 Until it has affiliated to an SRO, such a financial intermediary shall be prohibited from carrying out acts as a financial intermediary that go further than those that are mandatory for the preservation of assets.
Art. 11 — Amended by No I of the O of 31 Aug. 2022, in force since 1 Jan. 2023 (AS 2022 552).
Art. 12 Withdrawal and exclusion from an SRO
1 If a financial intermediary that wishes to continue to act on a professional basis as a financial intermediary withdraws from or is excluded from an SRO, it must submit an application for affiliation to another SRO within two months of withdrawing or after the legally binding exclusion decision. 2 Until receipt of the decision on the application, it may continue to carry on its activity only within the scope of the existing business relationships. 3 If it has not submitted an application to an SRO within the prescribed period or if it is refused affiliation, it shall be prohibited from continuing to act as a financial intermediary.
Para. 1 — Amended by No I of the O of 31 Aug. 2022, in force since 1 Jan. 2023 (AS 2022 552). Para. 3 — Amended by No I of the O of 31 Aug. 2022, in force since 1 Jan. 2023 (AS 2022 552).
Section 3 Duties in the event of a Suspicion of Mo
Inserted by No I of the O of 31 Aug. 2022, in force since 1 Jan. 2023 (AS 2022 552).
Art. 12a Prohibition of termination of the business relationship
1 A financial intermediary may not terminate a business relationship on its own initiative if the requirements for a report under Article 9 AMLA are met or if it exercises its right to report under Article 305ter paragraph 2 of the Swiss Criminal Code (SCC). 2 If there are specific indications that freezing measures from an authority are imminent, the financial intermediary shall be prohibited: a. from terminating a business relationship in respect of which it decides not to exercise the right to report under Article 305ter paragraph 2 SCC, although the requirements are met; b. from allowing the withdrawal of significant assets.
Para. 1 — SR 311.0
Art. 12b Termination of the business relationship
1 Except in the case provided for in Article 9b paragraph 1 AMLA, the financial intermediary may terminate the business relationship if: a. the Money Laundering Reporting Office Switzerland (MROS) notifies the financial intermediary within 40 working days of a report being made under Article 9 paragraph 1 letter a AMLA or Article 305ter paragraph 2 SCC that it is transmitting the reported information to a prosecution authority and the financial intermediary does not receive a ruling from the prosecution authority within five working days of this notification; b. it does not receive a ruling from the prosecution authority within five working days of a report under Article 9 paragraph 1 letter c AMLA; c. it is informed of the lifting of a freeze ordered by the prosecution authority on the basis of a report under Article 9 paragraph 1 AMLA or Article 305ter paragraph 2 SCC, unless a prosecution authority informs it otherwise. 2 If the financial intermediary terminates a business relations
Para. 1 let. a — SR 311.0
Art. 12c Information to a financial intermediary
If a financial intermediary informs another financial intermediary that it has filed a report under Article 9 AMLA or Article 305ter paragraph 2 SCC, it shall record this fact in an appropriate form.
SR 311.0