Anti-Money Laundering Act (AMLA)
Amended by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605).
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only, has no legal force and may not be relied on in legal proceedings.
Section 1 Financial Intermediaries Duty of Due Dil
Amended by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605).
Art. 3 Verification of the identity of the customer
1 When establishing a business relationship, the financial intermediary must verify the identity of the customer on the basis of a document of evidentiary value. Where the customer is a legal entity, the financial intermediary must acknowledge the provisions regulating the power to bind the legal entity, and verify the identity of the persons who enter into the business relationship on behalf of the legal entity. 2 In the case of cash transactions with a customer whose identity has not yet been identified, the duty to verify identity applies only if one transaction, or two or more transactions that appear to be connected, involve a considerable financial value. 3 Insurance institutions must verify the identity of the customer if the amount of a single premium, the regular premium or the total of the premiums involves a considerable financial value. 4 If in cases under paragraphs 2 or 3 there is any suspicion of money laundering or terrorist financing, the identity of the customer must
Para. 1 — Second sentence inserted by No I 4 of the FA of 3 Oct. 2008 on the Implementation of the revised Recommendations of the Financial Action Task Force, in force since 1 Feb. 2009 (AS 2009 361; BBl 2007 6269). Para. 4 — Amended by No I 4 of the FA of 3 Oct. 2008 on the Implementation of the revised Recommendations of the Financial Action Task Force, in force since 1 Feb. 2009 (AS 2009 361; BBl 2007 6269). Para. 5 — The name of the administrative unit has been changed in application of Art.
Art. 4 Establishing the identity of the beneficial owner
1 The financial intermediary must identify the beneficial owner with the due diligence required in the circumstances and verify its identity in order to ensure that it knows who the beneficial owner is. If the customer is a listed company or a subsidiary over which a listed company has majority control, the identity of the beneficial owner need not be established. 2 The financial intermediary must obtain a written declaration from the customer as to the identity of the individual who is the beneficial owner if: a. the customer is not the beneficial owner or if there is any doubt about the matter; b. the customer is a domiciliary company or an operating legal entity; or c. a cash transaction of considerable financial value in terms of Article 3 paragraph 2 is being carried out. 3 In the case of collective accounts or collective deposits, the financial intermediary must require the customer to provide a complete list of the beneficial owners and to give notice of any change to the list i
Art. 4 — Amended by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605). Para. 1 — Amended by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451).
Art. 5 Repetition of the verification of the identity of the customer or the establishment of the identity of the beneficial owner
1 If doubt arises in the course of the business relationship as to the identity of the customer or of the beneficial owner, the verification of identity or establishment of identity in terms of Articles 3 and 4 respectively must be repeated. 2 In the case of an insurance policy that may be surrendered, the insurance institution must also re-establish the identity of the beneficial owner if, in the event of a claim or the surrender of the policy, the person entitled to benefit is not the same person identified at the time that the insurance contract was concluded.
Art. 6 Special duties of due diligence
1 The financial intermediary is required to ascertain the nature and purpose of the business relationship wanted by the customer. The extent of the information that must be obtained, the hierarchical level at which the decision to enter into or continue a business relationship must be taken and the regularity of checks are determined by the risk represented by the customer. 2 The financial intermediary must clarify the economic background and the purpose of a transaction or of a business relationship if: a. the transaction or the business relationship appears unusual, unless its legality is clear; b. there are indications that assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC or are subject to the power of disposal of a criminal or terrorist organisation (Art. 260ter SCC) or serve the financing of terrorism (Art. 260quinquies para. 1 SCC); c. the transaction or the business relationship carries a higher risk; d. the data on a cus
Art. 6 — Amended by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605). Para. 2 let. b — Amended by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementation of the Council of Europe Convention on the Prevention of Terrorism and its Additional Protocol and the Strengthening of Criminal Justice Instruments for combating Terrorism and Organ
Art. 7 Duty to keep records
1 The financial intermediary must keep records of transactions carried out and of clarifications required under this Act in such a manner that other specially qualified persons are able to make a reliable assessment of the transactions and business relationships and of compliance with the provisions of this Act. 1bis The financial intermediary must periodically check the required records to ensure that they are up to date, and update them if need be. The periodicity, scope and type of checking and updating are based on the risk posed by the customer. 2 The financial intermediary must retain the records in such a manner as to be able to respond within a reasonable time to any requests made by the prosecution authorities for information or for the seizure of assets. 3 After the termination of the business relationship or after completion of the transaction, the financial intermediary must retain the records for a minimum of ten years.
Para. 1bis — Inserted by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451).
Art. 7a Assets of low value
The financial intermediary may dispense with complying with the duties of due diligence (Art. 3–7) if the business relationship only involves assets of low value and there is no suspicion of money laundering or terrorist financing.
Art. 7a — Inserted by No I 4 of the FA of 3 Oct. 2008 on the Implementation of the revised Recommendations of the Financial Action Task Force, in force since 1 Feb. 2009 (AS 2009 361; BBl 2007 6269).
Art. 8 Organisational measures
Financial intermediaries must take the measures that are required to prevent money laundering and terrorist financing in their field of business. They must in particular ensure that their staff receive adequate training and that checks are carried out.
Amended by No I 4 of the FA of 3 Oct. 2008 on the Implementation of the revised Recommendations of the Financial Action Task Force, in force since 1 Feb. 2009 (AS 2009 361; BBl 2007 6269).
Section 1a Dealers’ Duties of Due Diligence
Inserted by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605).
Art. 8a
1 Dealers under Article 2 paragraph 1 letter b must fulfil the following duties if they accept more than 100,000 francs in cash in the course of a commercial transaction: a. verification of the identity of the customer (Art. 3 para. 1); b. establishing the identity of the beneficial owner (Art. 4 para. 1 and 2 let. a and b); c. duty to keep records (Art. 7). 2 They must clarify the economic background and purpose of a transaction if: a. it appears unusual, unless its legality is clear; b. there are indications that assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC or are subject to the power of disposal of a criminal or terrorist organisation (Art. 260ter SCC) or serve the financing of terrorism (Art. 260quinquies para. 1 SCC). 3 Dealers are subject to the duties under paragraphs 1 and 2 even if the cash payment is made in two or more instalments and the individual instalments are less than 100,000 francs, but when added together
Para. 2 let. b — Amended by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementation of the Council of Europe Convention on the Prevention of Terrorism and its Additional Protocol and the Strengthening of Criminal Justice Instruments for combating Terrorism and Organised Crime, in force since 1 July 2021 (AS 2021 360; BBl 2018 6427). Para. 2 let. b — SR 311.0
Section 2 Duties in the Event of a Suspicion of Mo
Art. 9 Duty to report
1 A financial intermediary must immediately file a report with the Money Laundering Reporting Office Switzerland (the Reporting Office) as defined in Article 23 if it: a. knows or has reasonable grounds to suspect that assets involved in the business relationship: 1. are connected to an offence in terms of Article 260ter or 305bis SCC, 2. are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC, 3. are subject to the power of disposal of a criminal or terrorist organisation, or 4. serve the financing of terrorism (Art. 260quinquies para. 1 SCC); b. terminates negotiations aimed at establishing a business relationship because of a reasonable suspicion as defined in letter a; c. knows or has reason to assume based on the clarifications carried out under Article 6 paragraph 2 letter d that the data on a person or organisation passed on under Article 22a paragraph 2 or 3 correspond to the data of a customer, a beneficial owner or an authorised sig
Para. 1 let. a let. 1 — Amended by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementation of the Council of Europe Convention on the Prevention of Terrorism and its Additional Protocol and the Strengthening of Criminal Justice Instruments for combating Terrorism and Organised Crime, in force since 1 July 2021 (AS 2021 360; BBl 2018 6427). Para. 1 let. a let. 1 — SR 311.0 Para. 1 let. a let. 2 — Amended by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 r
Art. 9a Customer orders relating to the reported assets
1 During the analysis conducted by the Reporting Office under Article 23 paragraph 2, the financial intermediary shall execute customer orders relating to the assets reported under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 SCC. 2 The financial intermediary shall execute customer orders involving significant assets solely in a form that allows the prosecution authorities to follow their trail.
Art. 9a — Inserted by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605). Para. 1 — SR 311.0 Para. 2 — Inserted by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451).
Art. 9b Termination of the business relationship
1 If, following a report under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC, the Reporting Office does not inform the financial intermediary within 40 working days that it is transmitting the reported information to a prosecution authority, the financial intermediary may terminate the business relationship. 2 The financial intermediary who decides to terminate the business relationship may permit the withdrawal of significant assets solely in a form that allows the prosecution authorities to follow their trail. 3 The termination of the business relationship and the date of termination must be notified to the Reporting Office without delay. 4 After the business relationship has been terminated, the prohibition on providing information under Article 10a paragraph 1 must continue to be complied with.
Art. 9b — Inserted by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451). Para. 1 — SR 311.0
Art. 10 Freezing of assets
1 The financial intermediary shall freeze the assets entrusted to it that are related to the report under Article 9 paragraph 1 letter a of this Act or under Article 305ter paragraph 2 of the SCC as soon as the Reporting Office informs it that it is transmitting the reported information to a prosecution authority. 1bis It shall without delay freeze the assets entrusted to it that are related to the report under Article 9 paragraph 1 letter c. 2 It shall continue to freeze the assets until it receives a ruling from the competent prosecution authority, but at most for five working days from the date on which the Reporting Office gives notice of transmitting the reported information under paragraph 1 or on which it filed the report with the Reporting Office under paragraph 1bis.
Art. 10 — Amended by No I 7 of the FA of 12 Dec. 2014 on the Implementation of the 2012 revision of the Recommendations of the Financial Action Task Force, in force since 1 Jan. 2016 (AS 2015 1389; BBl 2014 605). Para. 1 — SR 311.0 Para. 1 — Amended by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451). Para. 2 — Amended by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451).
Art. 10a Prohibition of information
1 The financial intermediary is prohibited from informing the persons concerned or third parties that it has filed a report under Article 9 of this Act or under Article 305ter paragraph 2 SCC. The authorities and organisations responsible for supervision under Article 12 of this Act or under Article 43a of the Financial Market Supervision Act of 22 June 2007 (FINMASA) and people who carry out audits within the framework of supervision are not deemed to be third parties. 2 If the financial intermediary itself is unable to freeze the assets, it may inform the financial intermediary that is able to do so and which is subject to this Act. 3 The financial intermediary may also inform another financial intermediary subject to this Act that it has filed a report under Article 9 of this Act or under Article 305ter paragraph 2 of the SCC, provided this is required in order to comply with duties under this Act and provided both financial intermediaries: a. provide joint services for one customer
Art. 10a — Inserted by No I 4 of the FA of 3 Oct. 2008 on the Implementation of the revised Recommendations of the Financial Action Task Force, in force since 1 Feb. 2009 (AS 2009 361; BBl 2007 6269). Para. 1 — SR 311.0 Para. 1 — SR 956.1 Para. 1 — Amended by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451). Para. 3 — Amended by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451). Para. 3bis — SR 952
Art. 11 Exclusion of criminal and civil liability
1 Any person who in good faith files a report under Article 9 of this Act or who freezes assets in accordance with Article 10 may not be prosecuted for a breach of official, profession or trade secrecy or be held liable for breach of contract. 2 This exclusion of prosecution and liability also applies to: a. financial intermediaries that file a report under Article 305ter paragraph 2 of the SCC; b. audit firms that file a report under Article 15 paragraph 5; c. supervisory organisations in accordance with Article 43a of the FINMASA that file a report under Article 16 paragraph 1; d. self-regulatory organisations that file a report under Article 27 paragraph 4.
Art. 11 — Amended by No I 4 of the FA of 3 Oct. 2008 on the Implementation of the revised Recommendations of the Financial Action Task Force, in force since 1 Feb. 2009 (AS 2009 361; BBl 2007 6269). Para. 2 let. a — SR 311.0 Para. 2 let. c — SR 956.1 Para. 2 let. d — Amended by No I of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451).
Section 3 Provision of Information
Inserted by No I of the FA of 21 June 2013, in force since 1 Nov. 2013 (AS 2013 3493; BBl 2012 6941).
Art. 11a
1 If the Reporting Office requires additional information in order to analyse a report that it has received in accordance with Article 9 of this Act or Article 305ter paragraph 2 SCC, the financial intermediary making the report must on request provide such information that is in its possession. 2 If, based on this analysis, it becomes apparent that in addition to the financial intermediary making the report, other financial intermediaries are or were involved in a transaction or business relationship, the financial intermediaries involved must on request provide the Reporting Office with all related information that is in their possession. 2bis If, on the basis of the analysis of information from a foreign reporting office, it becomes apparent that financial intermediaries subject to this Act are or have been involved in a transaction or business relationship in connection with this information, the financial intermediaries involved must, on request, disclose to MROS all related infor
Para. 1 — SR 311.0 Para. 2bis — Inserted by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementation of the Council of Europe Convention on the Prevention of Terrorism and its Additional Protocol and the Strengthening of Criminal Justice Instruments for combating Terrorism and Organised Crime, in force since 1 July 2021 (AS 2021 360; BBl 2018 6427). Para. 3 — Amended by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementation of the Council of Europe Con