Switzerland is levelling up its economic crime agenda, having launched, in August 2023, a consultation procedure on a bill to strengthen its anti-money laundering (AML) framework. New reforms could tighten money laundering regulations, holding banks more accountable for reporting, scrutinising and controlling risks.
This follows major developments in the European Court of Justice regarding ultimate beneficial ownership (UBO), says Ted Datta, head of the financial crime compliance practice at Moody’s Analytics.
