- The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms.
- FINMA noted that the collected feedback confirmed its position that the mandatory identity verification of beneficial owners of funds as well as the periodic checks establishing that client data is up to date do not need to be set out in detail at ordinance level.
- Citing increased risks of money laundering, in February of that year, FINMA lowered the threshold triggering the reporting duties through another amendment of its AMLO to 1,000 Swiss francs (around $980 at the time of writing), from the previous 5,000 francs.
Swiss Financial Watchdog Releases Revised AML Ordinance, Clarifies Crypto Requirements
