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Statement from the SBA regarding the FATF Mutual Evaluation Report on Switzerland

  • The banks take note of the overall good marks given to Switzerland in the Mutual Evaluation Report with satisfaction. The FATF has thus recognised the efforts of the financial centre to resolutely implement international standards.
  • Switzerland fared well in most of the areas examined, both with regard to the legal system as well as with regard to the effectiveness of the measures taken. The Swiss financial centre thus has a proven, functional and effective system in the fight against money laundering, also in international comparison.
  • Adherence to international standards is an important success factor for the financial centre. The banks will therefore continue to resolutely fight against money laundering and terrorist financing and to report suspicious activities. In the view of the banks, simply increasing the number of suspicious activity reports would not necessarily result in a further rise in the effectiveness of money laundering prevention.
  • For any potential adjustments to Swiss laws and ordinances relating to the points of criticism, the SBA expects a good sense of proportion to be applied and that any form of “Swiss finish” be dispensed with.

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