Insights

With a new national strategy, the Federal Council is taking a clear stand against money laundering and terrorist financing, with a focus on transparency, law enforcement, asset recovery and cooperation.

In May 2024, we reported on the planned EU anti-money laundering package, consisting of a directive and three regulations. The aim is to harmonise and strengthen EU anti-money laundering regulations. Where do we stand today, approximately a year and a half after it came into force? Which regulations are already in place, and what can member states and financial institutions expect in the future? Below is a concise overview of the current status and timetable for the AML package.

After years of negotiations, Switzerland and the United States of America (USA) signed a new FATCA (Foreign Account Tax Compliance Act) Agreement on 27 June 2024.

There are currently interesting developments in Anti-money laundering legislation in the European Union (EU). The crypto sector and dealers of luxury goods such as cars, works of art, yachts, jewellery, etc. will be affected heavily by the future regulations. Professional football clubs and agents are also expected to be affected. In addition, an EU-wide upper limit for cash payments of a maximum of EUR 10,000 and a new EU authority to combat money laundering are to be created. This article outlines the most important changes at EU level, which could also have an impact on Swiss Anti-money laundering legislation in the medium term.