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. 14 Conditions andprocedure
1 The Federal Council may instruct the Federal Department of Finance (FDF) to take legal action before the Federal Administrative Court for the confiscation of frozen assets. 2 The Federal Administrative Court shall order the confiscation of assets: a. that are subject to the power of disposal of a foreign politically exposed person or a close associate of that individual, or of which those individuals are the beneficial owners; b. that are of illicit origin; and which c. have been frozen by order of the Federal Council in anticipation of their confiscation, pursuant to Article 4. 3 No statute of limitations in respect of criminal prosecution or penalties may be applied. 4 Should mutual legal assistance proceedings in criminal matters resume, confiscation proceedings shall be suspended until such time as a final decision has been reached in those proceedings.
Art. 15 Presumption of illicit origin
1 There shall be a presumption that assets are of illicit origin where the following conditions are fulfilled: a. the wealth of the individual who has the power of disposal over the assets or who is the beneficial owner thereof increased inordinately, facilitated by the exercise of a public function by a foreign politically exposed person; b. the level of corruption in the country of origin or surrounding the foreign politically exposed person in question was notoriously high during his or her term of office. 2 An increase shall be considered inordinate where there is a significant disproportion, inconsistent with ordinary experience and the prevailing circumstances in the country, between the income legitimately earned by the person with the power of disposal over the assets and the growth in that person’s wealth. 3 This presumption shall be reversed where it has been demonstrated with overwhelming probability that the assets in question were acquired legitimately.
Art. 16 Rights of third parties
Assets may not be confiscated in the following cases: a. rights thereto are asserted by a Swiss authority; b. a person who is not a close associate of the foreign politically exposed person in question has acquired, in good faith, rights in rem on those assets: 1. in Switzerland, or 2. in another country, provided that those rights have been affirmed in a judicial decision which can be recognised in Switzerland.