Switzerland to set up beneficial ownership register & bring lawyers into AML scope

The Swiss Federal Council proposed, on 30 August, to strengthen the country's anti-money laundering regime through creation of a register of beneficial owners of companies and other legal entities, and to extend due diligence and reporting obligations to legal professionals in certain circumstances.

The Swiss Federal Council proposed, on 30 August [2023], to strengthen the country's anti-money laundering regime through creation of a register of beneficial owners of companies and other legal entities, and to extend due diligence and reporting obligations to legal professionals in certain circumstances.