December 7 2016
The FATF conducted an assessment of Switzerland’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012 FATF Recommendations. This assessment reviews both the level of effectiveness of Switzerland’s AML/CFT regime as well as its level of technical compliance with the FATF Recommendations. Since its previous FATF assessment in 2005, Switzerland has strenghtened its AML/CFT regime. These efforts rest on a clear political will to promote the integrity of its financial center. In line with this, legal reforms have taken place in order to meet the requirements of the FATF Recommendation, and to address the significant money laundering risks that Switzerland faces.
On the operational side, law enforcement authorities have demonstrated the effectiveness of their investigative methods and of the mutual legal assistance they provide in the context of international money laundering cases. A number of these investigations related to grand corruption cases and led to the repatriation of considerable amounts to affected countries.