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21 December 2023 - Important for financial intermediaries! Updated sanctions notification in Switzerland on Ukraine

The Federal Department of Economics, Education and Research (EAER) has published an amendment to Annex 8 to the ordinance of March 4, 2022 on measures in connection with the situation in Ukraine

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 cannot resolve these, from immediately reporting to the Money Laundering Reporting Office in accordance with Art. 9 of the Money Laundering Act.

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