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"In accordance with the provisions of the regulation, financial intermediaries are required to implement the bans, block the assets of the sanctioned persons and report the affected business relationships to SECO. Reporting to SECO does not release a financial intermediary from carrying out additional investigations in accordance with Art. 6 AMLA if there are suspicions and, if he is unable to dispel these, from immediately reporting to the money laundering reporting office in accordance with Article 9 AMLA."


Check SECO:




Without too much surprise, the very controversial proposal of using frozen Russian assets for Ukraine reconstruction has been rejected by the Swiss Senate Commission. The weak legal basis for such proposal may have been the reason of the rejection... To be continued...






Find my latest article published in CEP magazine, January edition









(https://bit.ly/3RIowplCopyright) - A publication of the Society of Corporate Compliance and Ethics (SCCE). Check out COSMOS for more insights!

How to leverage compliance for ISO audit_Jan edition
.pdf
Download PDF • 68KB




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