SwitzerlandThe Swiss Financial Market Supervisory Authority concluded a supervisory investigation and enforcement proceeding against the Credit Suisse Group for seriously violating its obligations under the Anti-Money Laundering Act in connection with loans it made to state-owned companies in Mozambique.
The Federal Tax Administration of Switzerland announced that the Automatic Exchange of Information, a framework based on global standards, resulted in 96 countries exchanging information on financial accounts.
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Switzerland Drops Magnitsky Money Laundering Probe
The Swiss Financial Market Supervisory Authority announced that it has found the Lugano, Switzerland-based bank in serious breach of the anti-money laundering requirements in connection with Venezuelan client relationships.
The Swiss Financial Market Supervisory Authority issued a reprimand against the Geneva, Switzerland-based private bank for breaches of the due diligence requirements under the anti-money laundering regulations.
| Technical | Effectiveness |
|---|---|
| Compliant : 8 | High : 0 |
| Largely Compliant : 27 | Substantial : 7 |
| Partially Compliant : 5 | Moderate : 4 |
| Non-Compliant : 0 | Low : 0 |
Switzerland's technical compliance was re-rated in a Feb. 13, 2020 follow-up report
| Rank : 93/141 |
| Score : 4.74/10 |
| Rank : 4/180 |
| Score : 85/100 |
| Rank : 3/133 |
| Score : 74/100 |