Swiss government approves anti-money laundering plan

The Swiss government on Friday approved a plan for ​combating money laundering and terrorist ‌financing that it said would strengthen controls while protecting the integrity ​of the country as ​a financial centre.
After conducting a review, ⁠the country will now ​focus on developing instruments for ​criminal prosecution and stronger supervisory authorities in the coming years, the statement said.


This ​will include improving data ​bases and preparing a third national risk ‌assessment ⁠on money laundering, following the first two in 2015 and 2021, respectively.
In September Swiss lawmakers had ​sought to ​water ⁠down government proposals on preventing financial crime, saying ​the country needed to ​stay ⁠competitive in cross-border wealth management in the face of rivals ⁠such ​as Singapore and ​the United Arab Emirates gaining ground.

Source:  Reuters

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