Foreign Illicit Assets Act (FIAA)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 1 Purpose
This Act governs the freezing, confiscation and restitution of assets held by foreign politically exposed persons or their close associates, where there is reason to assume that those assets were acquired through acts of corruption, criminal mismanagement or by other felonies.
Art. 2 Definitions
Within the meaning of the present Act: a. foreign politically exposed persons means individuals who are or have been entrusted with prominent public functions by a foreign country, for example heads of State or of government, senior politicians at the national level, senior government, judicial or military officials at the national level, important political party officials at the national level and senior executives of State-owned corporations of national importance; b. close associates means natural persons who are known to be in close association with the persons defined in subparagraph (a) by reason of a family, personal or business relationship; c. assets means property of any kind, whether tangible or intangible, movable or immovable.