The Swiss Financial Market Supervisory Authority has flagged that the Swiss Federal Department of Economic Affairs, Education and Research has amended the list of sanctioned persons, companies and organisations under Switzerland’s measures against Belarus by updating Annex 13 of the relevant ordinance, and that the Swiss sanctions database SESAM has been adjusted accordingly. The changes take effect on 11 April 2025. Financial intermediaries are required to implement the prohibitions set out in the ordinance, freeze the assets of sanctioned persons, and report affected business relationships to the State Secretariat for Economic Affairs. The notice also reiterates that reporting to the State Secretariat for Economic Affairs does not remove the duty to carry out additional clarifications where suspicions arise under Article 6 of the Anti-Money Laundering Act and, if those suspicions cannot be dispelled, to file a report without delay with the Money Laundering Reporting Office under Article 9.
Swiss Financial Market Supervisory Authority (FINMA) 2025-04-10
Swiss Financial Market Supervisory Authority reports updated Belarus sanctions designations with SESAM changes effective 11 April 2025
The Swiss Financial Market Supervisory Authority announced amendments to the sanctions list against Belarus, effective 11 April 2025, as updated by the Swiss Federal Department of Economic Affairs, Education and Research. Financial intermediaries must implement prohibitions, freeze assets, and report affected relationships to the State Secretariat for Economic Affairs. Reporting does not exempt them from further clarifications under the Anti-Money Laundering Act, with mandatory reporting to the Money Laundering Reporting Office if suspicions persist.