CSR Compliance

Consumers and NGOs are becoming increasingly concerned about the relocation of business activities to regions that have less stringent social and environmental regulations and limited legal security. In future, groups and organizations that operate globally will have to pay closer attention to ethical conduct in their supply chains and networks, and document their corporate social responsibility (CSR).

The latest political processes, for example the Responsible Business Initiative and the National Action Plan for Business and Human Rights in Germany, deal with question of how much responsibility corporations can, or should, assume for the entire supply chain in future. This strongly resembles the development of the Anti-Money Laundering Act, which is summarized in the following timeline:

    • 1977: First due diligence agreement between Swiss banks, regarding acceptance of funds, is drawn up.

    • 1986: The Swiss bank accounts of the former dictators Duvalier (Haiti) and Marcos (Philippines) put an international spotlight on Switzerland. The Swiss Federal Banking Commission announces guidelines on the acceptance of funds from politically exposed persons.

    • 1988: The “Lebanese Connection” money laundering scandal leads to the resignation of Swiss Justice Minister, Elisabeth Kopp, because she had forewarned her husband about it.

    • 1989/1990: Foundation of the global Financial Action Task Force (FATF). Adoption of 40 recommendations in the fight against money laundering.

    • 1990: Money laundering articles come into force in the Swiss penal code.

    • 1998: The Swiss Anti-Money Laundering Act comes into force.

    • 2001: Global FATF guidelines supplemented by additional recommendations on fighting terrorist financing and funding politically exposed persons.

    • 2012: Tightening of global FATF recommendations.

    • 2015: Latest FATF guidelines come into force in Switzerland.

    • 2016: The latest revision of the first due diligence agreement between Swiss banks comes into force.


Source: Schöchli, Hansueli (NZZ, 7.4.2016). Und ewig lockt die nächste Regulierung 

Complete Revision of the Federal Data Protection Act

The complete revision's draft of the Federal Data Protection Act is currently in political consultation. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparancy regarding the handling of confidential data.

Links: draft, report

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