Near but far: EU-Swiss AML/CFT

The Swiss Federal Council’s unilateral decision on 26 May [2021] to end seven years of negotiations on a new agreement to govern future relations between Switzerland and the European Union (EU), citing sovereignty concerns [1], closes the door on attempts to ensure the country has a formal link with EU anti-money laundering/counter financing of terrorism (AML/CFT) legislation. Sara Lewis looks at how cooperation in combating illicit finance could be impacted.