Anti-Money Laundering Act citations in the Decisions of the Swiss Federal Supreme Court

An evaluation of citations of the Anti-Money Laundering Act (AMLA) of October 10 1997 (AMLA, SR 955.0) in the Decisions of the Swiss Federal Supreme Court (BGE) yielded interesting results. The ten standards in the AMLA that are cited most often are related to the obligations of financial intermediaries, the scope of application of the AMLA and supervision of financial intermediaries. The evaluation illustrates the application of AMLA standards by the Swiss Federal Supreme Court.

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Citations of enactment articles from AMLA dating from 1999 to 2018 are found in 16 BGE. Seven of the ten articles that are cited most often concern the obligations of financial intermediaries. These obligations are the due diligence obligations of the financial intermediaries in general, such as identification of the contracting party (Art. 3), identification of the economic beneficiary (Art. 4), special due diligence obligations (Art. 6) and the obligation of documentation (Art. 7). They also relate to the obligations of financial intermediaries in the event of suspected money laundering (in particular Art. 9 and Art.10).

Complete Revision of the Federal Data Protection Act

Complete Revision of the Federal Data Protection Act: „As of 15th September 2017, draft and report for a completely revised Federal Data Protection Act is public. In a first step parliament and the people agreed to adaptations in order to be compliant with EU law. The second part of the revision is debated by the parliament since September 2019. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparency regarding the handling of confidential data.”

Links: datenrecht.ch

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