Anti-money laundering (AML)

AML obligations require financial intermediaries and certain other businesses to identify customers and beneficial owners, understand the purpose of relationships, monitor transactions and report suspicious activity through the prescribed channels. In Switzerland, AML duties are central for banks, securities firms, asset managers, insurers and some non-financial actors, with supervision by FINMA, self-regulatory organisations or other authorities depending on the sector. Effective AML programmes combine risk assessment, policies, training, recordkeeping and escalation procedures.