Switzerland’s Role in Combating Financial Crimes: The State Secretariat for International Financial Matters (SIF)

In the intricate world of global finance, effective regulations and enforcement against financial crimes, corruption, tax evasion, and over-indebtedness have become critically important. One country that stands out in this arena is Switzerland. The Swiss government, with the State Secretariat for International Financial Matters (SIF) at the helm, is committed to fighting illicit financial flows.

The SIF: Conducting International Financial Business

• Established in 1972
• Responsible for conducting international financial business on behalf of the Swiss Confederation
• Plays a significant role in asset recovery involved in financial crimes

International Partnerships & Global Regulatory Framework

• Collaborates with international institutions, like FATF and the EU, to fortify financial regulations
• Commitment to upholding the highest standards in financial regulation

Robust Swiss Financial Crime Laws

Swiss Banking Act

• Sets due diligence, reporting, and information exchange requirements
• Prevents and detects money laundering & tax evasion

Swiss Criminal Code

• Criminalizes various financial misconduct forms

Swissetfonds Act & Due Diligence Act

• Regulates collective investment schemes
• Enhances transparency of Swiss real estate ownership structures

International Cooperation & Information Exchange

• Facilitates sharing of critical info on financial crimes through MLATs and TIEAs
• Strengthens ability of countries to combat financial crimes and bring offenders to justice

SIF’s Role in Safeguarding Swiss Finance & Fighting Financial Crimes

1. Works with international institutions
2. Strengthens global regulatory framework
3. Collaborates with foreign counterparts
4. Enforces robust financial crime laws
5. Fosters a global culture of transparency and trust