Swiss banks and other institutions filed a record volume of suspicious activity reports for the eighth consecutive year in 2021, but their country's financial intelligence unit, MROS, rejected nearly a quarter of them for displaying insufficient quality. Fraud again ranked as the most frequently suspected predicate offense and transaction monitoring the "greatest trigger" for filing, according to an annual report from the Money Laundering Reporting Office Switzerland, or MROS, which all told received 5,954 SARs in 2021, a rise of 12 percent from the previous year's total. A full 95 percent of the SARs arrived electronically, as 2021 marked the...
The Money Laundering Reporting Office Switzerland published its annual report covering the main regulatory developments and challenges in 2021, including efforts to ensure the quality of data received from financial institutions.
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