The Swiss Financial Market Supervisory Authority has adopted a partial revision of its supervisory practice for client onboarding through digital channels. Following its consultation, the revised circular allows Switzerland’s forthcoming electronic identity credential to be used for identification under the Anti-Money Laundering Act and updates the framework to address technological developments and related risks. The changes introduce liveness detection as an additional safeguard for online identification, particularly against risks associated with artificial intelligence. They also permit digital methods that reliably link a contracting party and its infrastructure to a place of residence, and treat identification documents with QR codes, such as Swiss driving licences, as equivalent to documents with a machine-readable zone. The revised circular takes effect Nov. 1, 2026.
Swiss Financial Market Supervisory Authority adopts revised digital identification rules covering e-ID and liveness checks
The Swiss Financial Market Supervisory Authority has revised its digital onboarding rules to accommodate Switzerland’s forthcoming e-ID and strengthen online identification safeguards. The changes introduce liveness detection, permit reliable digital residence verification and recognize QR-coded identity documents, effective Nov. 1, 2026.