By AMLi Correspondent in Zurich
SWITZERLAND today (Wednesday) said it had drafted new rules to tighten gaping cracks in its money laundering regulations.
The move comes amid sustained criticism – led by AML Intelligence – of the financial hub’s weak AFC regime.
If the new rules are accepted, lawyers, accountants and other company consultants who set up trusts, or holding companies, or arrange real estate deals, will also become subject to due diligence rules and reporting obligations.
The government also detailed its plans to create a central registry to track who actually owns legal entities in a move to fight money-laundering via shell companies, first floated last October.
The new register, to be held at the Federal Department of
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