Anti-Money Laundering Act (AMLA)
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 General Provisions
Art. 12 Responsibility
The following authorities and organisations shall supervise compliance by financial intermediaries with the duties set out in Chapter 2: a. for financial intermediaries under Article 2 paragraph 2 letters a to dquater, FINMA; b. for financial intermediaries under Article 2 paragraph 2 letter e, the FGB; bbis. for financial intermediaries under Article 2 paragraph 2 letter f: the Intercantonal Supervisory and Executive Authority under Article 105 of the GamblA (the intercantonal authority); bter. for financial intermediaries under Article 2 paragraph 2 letter g: the Central Office for Precious Metals Control (the Central Office); c. for financial intermediaries under Article 2 paragraph 3, the recognised self-regulatory organisations (Art. 24).
Art. 12 — Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829). Amended by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). let. a — Amended by No I 8 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33, 399; BBl 2020 233). let. b —
Art. 13
Repealed by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, with effect from 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Art. 14 Affiliation to a self-regulatory organisation
1 Financial intermediaries within the meaning of Article 2 paragraph 3 must be affiliated to a self-regulatory organisation. 2 A financial intermediary within the meaning of Article 2 paragraph 3 is entitled to affiliate to a self-regulatory organisation if: a. the financial intermediary guarantees compliance with its duties in accordance with this Act by means of its internal regulations and organisation b. the financial intermediary enjoys a good reputation and guarantees compliance with its duties in accordance with this Act c. the persons responsible for its administration and management also meet the requirements of letter b; and d. its qualified participants enjoy a good reputation and guarantee that their influence is not detrimental to prudent and sound business operations. 3 The self-regulatory organisation may make affiliation conditional on the financial intermediary operating in specific sectors.
Art. 14 — Amended by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).
Art. 15 Dealers’ duty to verify
1 Dealers with duties of due diligence under Article 8a must appoint an audit firm to verify whether they are complying with their duties under Chapter 2. 2 Audit firms under Article 6 of the Auditor Oversight Act of 16 December 2005 which have the required expertise and experience may be appointed as an audit firm. 3 The dealers must provide the audit firm with all the information and documents required to conduct the audit. 4 The audit firm shall verify compliance with the duties under this Act and prepare a report thereon for the attention of the responsible management bodies of the dealer audited. 5 If a dealer fails to comply with its duty to report, the audit firm shall immediately file a report with the Reporting Office if it has reasonable grounds to suspect that: a. an offence under Article 260ter or 305bis SCC has been committed; b. assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC; c. assets are subject to the power of
Art. 15 — 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). Para. 2 — SR 221.302 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). Para. 3 — Amended by No
Section 2 Duty to Report of the Supervisory Author
Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829). 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. 16
1 FINMA, the FGB, the intercantonal authority, the Central Office and the supervisory organisations shall immediately submit a report to the Reporting Office if they have reasonable grounds to suspect that: a. a criminal offence under Article 260ter, 305bis or 305ter SCC has been committed; b. assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC; c. assets are subject to the power of disposal of a criminal or terrorist organisation; or d. assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC). 2 This duty applies only if the financial intermediary or the self-regulatory organisation has not already submitted a report. 3 The supervisory organisation shall submit a copy of the report to FINMA at the same time.
Para. 1 — Amended by Annex 2 No 3 of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451). Para. 1 let. a — 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
Section 3 Supervision of Financial Intermediaries
Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Art. 17
1 Ordinances specifying the duties of due diligence defined in Chapter 2 and under the gambling legislation shall be issued by: a. FINMA for financial intermediaries under Article 2 paragraph 2 letters a to dquater; b. the FGB for financial intermediaries under Article 2 paragraph 2 letter e; c. the FDJP for financial intermediaries under Article 2 paragraph 2 letter f; d. the FOCBS for financial intermediaries under Article 2 paragraph 2 letter g. 2 These authorities shall determine how the duties of due diligence are to be fulfilled. They may recognise corresponding self-regulation.
Art. 17 — Amended by Annex 2 No 1 of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451).
Section 3a Supervision of Financial Intermediaries
Inserted by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Art. 18 Duties of FINMA
1 FINMA shall have the following duties in terms of its supervision of the financial intermediaries under Article 2 paragraph 3: a. it recognises the self-regulatory organisations or withdraws such recognition; b. it supervises the self-regulatory organisations; c. it approves the regulations issued by the self-regulatory organisations in accordance with Article 25 and any amendments thereto; d. it ensures that the self-regulatory organisations enforce their regulations; e. and f. ... 2 ... 3 In order to preserve professional secrecy, self-regulatory organisations shall arrange for inspections under this Act (AMLA inspections) to be carried out on lawyers by lawyers and on notaries by notaries. 4 The lawyers and notaries instructed to carry out AMLA inspections must meet the following requirements: a. lawyer’s or notary’s practising certificate; b. guarantee of that inspections will be carried out properly; c. proof of the relevant knowledge of AMLA, practical experience and continuing
Art. 18 — Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829). Para. 1 — Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829). Para. 1 let. b — Amended by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 1 let. ef — Repealed by Annex No II
Art. 18a Public directory
1 FINMA shall maintain a directory of the financial intermediaries under Article 2 paragraph 3 that are affiliated to a self-regulatory organisation. This directory shall be publicly accessible online. 2 FINMA shall make the data available via remote access.
Art. 18a — Inserted by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Art. 19
Repealed by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, with effect from 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Art. 19a
Inserted by Annex No 17 of the Financial Market Supervision Act of 22 June 2007 (AS 2008 5207; BBl 2006 2829). Repealed by Annex No II 15 of the Financial Institutions Act of 15 June 2018, with effect from 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).
Art. 19b
Inserted by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, (AS 2008 5207; BBl 2006 2829). Repealed by Annex No 7 of the FA of 20 June 2014 (Consolidation of Oversight of Audit Companies), with effect from 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857).
Art. 20 Activity without affiliation to a self-regulatory organisation
1 FINMA may take supervisory action in accordance with Articles 29 to 37 of the FINMASA against financial intermediaries who fail to comply with the duty to be affiliated to a recognised self-regulatory organisation in accordance with Article 14 paragraph 1. 2 It may order the liquidation of legal entities and general and limited partnerships, and the deletion of sole proprietorships from the commercial register.
Art. 20 — 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. 1 — SR 956.1
Art. 21 and 22
Repealed by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, with effect from 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Section 3b Passing on Data on Terrorist Activities
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. 22a
1 The Federal Department of Finance (FDF) shall pass on to FINMA, the FGB, the intercantonal authority and the Central Office data which it has received from another State and which have been published by that State on persons and organisations that have been placed on a list in the State concerned on the basis of United Nations Security Council Resolution 1373 (2001) due to terrorist activities or support thereof. 2 FINMA shall pass on the data received from the FDF to: a. the financial intermediaries under its supervision in accordance with Article 2 paragraph 2 letters a and b–dquater; b. the supervisory organisations for the attention of the financial intermediaries in accordance with Article 2 letter abis that are subject to their ongoing supervision; c. the self-regulatory organisations for the attention of the financial intermediaries affiliated to them. 3 The FGB, the intercantonal authority and the Central Office shall pass on the data received from the FDF to the financial in
Para. 1 — www.un.org > English > Peace and Security > Security Council > Resolutions > 2001 > 1373 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 let. a — Amended by No I 8 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33, 399; BBl 2020 233). Para. 2 let. b — Amended by Annex No II 15 of the Financial Institutions Ac
Section 4 Money Laundering Reporting Office Switze
Art. 23
1 The Federal Office of Police shall manage the Money Laundering Reporting Office Switzerland (the Reporting Office). 2 The Reporting Office shall examine and analyse the reports received. If necessary, it shall obtain additional information in accordance with Article 11a.. 3 It shall maintain its own information system to combat money laundering and its predicate offences, organised crime and terrorist financing. 4 It must notify the responsible prosecution authority immediately if it has reasonable grounds to suspect that: a. an offence as defined in Articles 260ter Number 1, 305bis or 305ter SCC has been committed; b. assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC; c. assets are subject to the power of disposal of a criminal or terrorist organisation; or d. assets serve the financing of terrorism (Art. 260quinquies para. 1 SCC). 5 If it transmits the information reported by a financial intermediary under Article 9 paragraph
Para. 1 — The title of this administrative entity has been amended in application of Art. 16 para. 3 of the Publication O of 17 Nov. 2004 (AS 2004 4937). Para. 2 — Amended by No I of the FA of 21 June 2013, in force since 1 Nov. 2013 (AS 2013 3493; BBl 2012 6941). 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. 4 let. a — Amended by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementation of the C
Section 5 Self-Regulatory Organisations
Art. 24 Recognition
1 Organisations are recognised as self-regulatory organisations if they: a. have regulations in accordance with Article 25; b. supervise their affiliated financial intermediaries with regard to compliance with their duties in terms of Chapter 2; and c. provide the guarantee of irreproachable business conduct and ensure that the persons and audit firms they instruct to carry out inspections: 1. possess the required specialist knowledge, 2. provide the required guarantees that inspections will be carried out properly, and 3. are independent of the management and administration of financial intermediaries being inspected; d. ensure that the audit firms they instruct to carry out inspections and lead auditors fulfil the requirements under Article 24a. 2 The self-regulatory organisations of the licensed transport undertakings under the Public Transport Act of 20 March 2009 must be independent of their respective managements.
Para. 1 let. c — Amended by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 1 let. d — Inserted by Annex No 7 of the FA of 20 June 2014 (Consolidation of Oversight of Audit Companies) (AS 2014 4073; BBl 2013 6857). Amended by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 2 — SR 745.1 Para. 2 — Amended by Annex
Art. 24a Licensing of audit firms and lead auditors
1 The self-regulatory organisation shall grant the audit firms and lead auditors the necessary licence and supervise their activity. 2 The audit firm shall be licensed if: a. it is licensed as an auditor by the Federal Audit Oversight Authority in accordance with Article 6 of the Auditor Oversight Act of 16 December 2005; b. it is adequately organised for this audit; and c. it does not perform any other activity requiring authorisation under the financial market acts in accordance with Article 1 paragraph 1 of the FINMASA. 3 The lead auditor shall be licensed to lead audits in accordance with paragraph 1 if he or she: a. is licensed as an auditor by the Federal Audit Oversight Authority in accordance with Article 5 of the Auditor Oversight Act; b. has the necessary specialist knowledge and the necessary practical experience for performing audits in accordance with paragraph 1. 4 Article 17 of the Auditor Oversight Act applies by analogy to the self-regulatory organisation's withdrawal
Art. 24a — Inserted by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 2 let. a — SR 221.302 Para. 2 let. c — SR 956.1
Art. 25 Regulations
1 Self-regulatory organisations must issue regulations. 2 The regulations shall specify the duties of diligence of their affiliated financial intermediaries within the meaning of Chapter 2 and stipulate how these duties must be fulfilled. 3 They shall further stipulate: a. the requirements for the affiliation and exclusion of financial intermediaries; b. how compliance with the duties in terms of Chapter 2 is monitored; c. appropriate penalties.
Art. 26 Lists
1 The self-regulatory organisations must maintain lists of their affiliated financial intermediaries and of persons to whom they refuse affiliation. 2 They must notify FINMA of these lists and of any amendments thereto.
Para. 2 — Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829).
Art. 26a Swiss group companies
1 FINMA may provide for financial intermediaries in accordance with Article 2 paragraph 3 that are Swiss group companies of a financial intermediary in accordance with Article 2 paragraph 2 letters a–dquater that proof of compliance with the obligations specified in Chapter 2 may be provided in the audit report for the group. 2 FINMA shall publish a list of group companies in accordance with paragraph 1.
Art. 26a — Inserted by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 1 — Amended by No I 8 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33, 399; BBl 2020 233).
Art. 27 Exchange of information and duty to report
1 The self-regulatory organisations and FINMA may mutually exchange any information or documents that they require in order to fulfil their duties. 2 The self-regulatory organisations shall notify FINMA of: a. terminations of memberships; b. decisions on the refusal of affiliation; c. decisions to exclude and the reasons therefor; d. the opening of sanctions proceedings that may end in exclusion. 3 They shall provide FINMA with a report at least once each year on their activities in terms of this Act together with a list of decisions on sanctions issued during the period covered by the report. 4 They shall immediately submit a report to the Reporting Office if they have reasonable grounds to suspect that: a. a criminal offence under Article 260ter or 305bis of the Swiss Criminal Code has been committed; b. assets are the proceeds of a felony or an aggravated tax misdemeanour under Article 305bis number 1bis SCC; c. assets are subject to the power of disposal of a criminal or terrorist
Art. 27 — Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829). Art. 27 — 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. 4 — Amended by Annex 2 No 3 of the FA of 19 March 2021, in force since 1 Jan. 2023 (AS 2021 656; 2022 551; BBl 2019 5451). Para. 4 let. a — Amended by Annex No II 6 of the FedD of 25 Sept. 2020 on the Approval and Implementat
Art. 28 Withdrawal of recognition
1 FINMA shall not withdraw recognition from a self-regulatory organisation under Article 37 of the FINMASA without prior warning. 2 If a self-regulatory organisation has its recognition withdrawn, its affiliated financial intermediaries must submit a request for affiliation with another self-regulatory organisation within two months. 3 and 4 ...
Art. 28 — Amended by Annex No 17 of the Financial Market Supervision Act of 22 June 2007, in force since 1 Jan. 2009 (AS 2008 5207; BBl 2006 2829). Para. 1 — SR 956.1 Para. 2 — Amended by Annex No II 15 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 34 — Repealed by Annex No II 15 of the Financial Institutions Act of 15 June 2018, with effect from 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).