Switzerland’s Battle Against Illicit Financial Flows: A Global Leader in Financial Crime Prevention

Switzerland, known as a global financial hub, is a leading country in the fight against financial crime, corruption, tax evasion, and over-indebtedness. The State Secretariat for International Financial Matters (SIF), part of the Federal Department of Finance (FDF), plays a vital role in these efforts.

Supporting International Cooperation

• Switzerland is a founding member of the Financial Action Task Force (FATF)
• Spearheads initiatives like Automatic Exchange of Information (AEOI) to combat tax evasion and improve transparency

Rigorous Regulatory Frameworks

• Swiss financial sector subject to stringent regulatory frameworks
• Banks follow the Bank Secrecy Act, KYC, AML procedures, and CDD measures
• Implemented 5AMLD and MAR to strengthen financial regulation

Asset Recovery and International Cooperation

• Works closely with international organizations: IMF, World Bank, UN
• Returns looted assets to rightful owners, contributing to global efforts

Multifaceted Approach to Financial Crime Prevention

• Collaborates with authorities, industry associations, academia, and civil society
• Leads public-private partnerships, capacity building projects in various jurisdictions

Commitment to Global Financial System Integrity

• Maintains global financial system integrity
• Continues to be a leading voice in shaping financial crime prevention agenda