| Prevention of Money Laundering
As a supervisory authority set up by a special act, the SFBC is mandated by the Anti-Money Laundering Act, AMLA to define the due diligence obligations under the Act for the financial intermediaries it supervises and to monitor the means allotted to the application of the Act. With respect to client identification, the SFBC has recognised the Agreement on the Swiss banks’ code of conduct with regard to the exercise of due diligence, CDB issued by the Swiss Bankers Association as the minimum standard for banks and securities dealers.
The SFBC Money Laundering Ordinance, MLO-SFBC focuses in particular on due diligence obligations in relation to higher risk transactions or relationships. |
