News

Swiss authorities have taken several steps to change the broadly held perception that their country only loosely follows global anti-money laundering standards and largely disregards Western sanctions, including against Russia, but doubts persist. On Aug. 21, Switzerland's State Secretariat for Economic Affairs, or SECO, folded the dual tasks of implementation of commercial and financial embargoes and enforcement of controls on outbound commercial and military goods into a new agency, "Export Controls and Sanctions," which launched Friday, Sept. 1. "This will allow better consideration of the political weight of these cases and improve the perception we have of SECO, both internally...