The Swiss Federal Council published the draft law and the related message concerning the planned revision of the Anti-Money Laundering Act (AMLA) on 26 June 2019 after the consultation period ended.
To effectively predict and detect fraudulent activity, banks must recognize the wide range of tools at criminals’ disposals and the technological and social developments that are making fraudsters’ jobs easier.
Use of trusts is widespread in English-speaking countries. Foreign trusts are both in demand and in use in Switzerland as well. On 13 March 2019, the National Council debated whether trusts should be included in the Swiss legal framework.