Switzerland to impose highest AML standard in Europe


Share post:

The Swiss government has proposed new anti-money laundering regulations that will be stricter than those in the rest of Europe.

The new regulations will increase oversight of legal entities like trusts and hold solicitors, consultants, and banks to a higher standard of accountability for reporting, examining, and controlling risks. Following a consultation, the regulations are expected to be presented to parliament in 2024.

Switzerland has a history of serving as a haven for criminals to hide their money, but they are making an effort to change this perception. Over a hundred nations routinely exchange bank account information with the nation.

Read More: Switzerland to impose highest AML standard in Europe

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

Why is Sustainable FinTech Critical Today

FinTech offers robust convenience and security for financial transactions. But now, many customers are more keen on the...

Inswitch Partners with n1co Technologies To Improve Financial Inclusion In El Salvador

Inswitch, a global company in embedded finance technology, has partnered with n1co Technologies, a fintech company from El...

Billtrust Expands Partnership With Visa To Support Business Payments Network

Billtrust, a company in helping businesses manage orders and payments, has expanded its partnership with Visa. Together, they...

Open Payment Technologies Ltd Launches New Digital Wallet App “Kuady”

Open Payment Technologies Ltd is announcing the launch of its digital wallet app "Kuady". Kuady is designed to...