The case

Today, the Federal Department of Finance (FDF) published the second “Report on the national evaluation of the risks of money laundering and terrorist financing in Switzerland” by the interdepartmental coordinating group on combating money laundering and the financing of terrorism (CGMF). The report describes the evolution in these risks since 2015 when the first report was published. It also provides an overview of the legislative provisions that have been implemented since 2015. For more see link.

Source: sif.admin

The commentary

The final chapter of the report identifies three areas where risk appears to have increased since 2015: online gambling banks, which have only been licensed in Switzerland since 2019, terrorist financing and crypto-assets, whose rapid development and growing popularity have created new risks. Only in-directly mentioned in the report is the infiltration of the Swiss economy by the Mafia. Nicoletta della Valle, Director of the Federal Office of Police, warns in today’s press about organised crime, for example by the Ndrangheta.

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