Switzerland: federal register against money laundering

Wednesday 18th December 2024 11:11 AM

International pressure –

Switzerland must strengthen its laws against money laundering

A federal register of beneficial owners of companies, based on international standards in this area, is being discussed at the Council of States.

Published today at 5:00 p.m.

Several speakers doubted the effectiveness of such a measure, but international pressure is strong.

KEYSTONE/Ti-Press/Alessandro Crinari

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Switzerland must introduce a federal register of beneficial owners to combat money laundering. The Council of States largely discussed this Federal Council project on Wednesday.

With this project, which is based on international standards in this area, the government wants in particular to establish a federal register of beneficial owners of companies.

Several speakers doubted the effectiveness of such a measure. But international pressure is strong, said Daniel Jositsch (PS/ZH) on behalf of the committee. Swiss banks need this regulation, added Finance Minister Karin Keller-Sutter.

The Chamber followed by 30 votes to 7. The detailed debates continue. Legal advice activities are also affected by this tightening of rules. However, the responsible committee wants to deal with this aspect later in another project, contrary to the Federal Council and the left.

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