Switzerland: Legislation to Combat Money Laundering

Abstract

The Swiss legislative policy designed to combat the use of the financial system for money laundering has been progressively tightened over the last few years. It appears that since the 1980s all measures taken were designed in order to have established a consistent framework at the end of the process. The legislative frame has been completed with a key element through the adoption on 10th October, 1997, by Parliament of a new Federal Act on the prevention of money laundering in the financial sector (Money Laundering Act (MLA)). This new piece of legislation entered into force on 1st April, 1998.

Citation

Sansonetti, R. (1998), "Switzerland: Legislation to Combat Money Laundering", Journal of Money Laundering Control, Vol. 2 No. 1, pp. 82-95. https://doi.org/10.1108/eb027174