News

Swiss officials have repeatedly emphasized that when reporting suspicious activity, quality trumps quantity, but recent legal decisions and other factors have fueled a surge in filings that may rise further if lawmakers adopt an anti-money laundering reform package later this year. The volume of suspicious activity reports filed to the Money Laundering Reporting Office Switzerland, or MROS, increased 25 percent from 2018 to hit a new record of 7,705 last year, continuing a sharp rise in filings that began after 2014, when only 1,753 reports were filed. Most of the SARs filed last year flagged suspected graft or fraud, and...