The Swiss Financial Market Supervisory Authority (FINMA) published an update noting that Switzerland’s Federal Department of Economic Affairs, Education and Research has amended the annex to the ordinance on measures concerning Guatemala, changing the list of sanctioned persons, companies and organisations. The update was reflected in Switzerland’s SESAM sanctions database (SECO Sanctions Management) and published as urgent, with effect upon publication. FINMA reminded financial intermediaries that, under the ordinance, they must implement the prohibitions, freeze the assets of sanctioned persons, and report affected business relationships to the State Secretariat for Economic Affairs (SECO). It also clarified that reporting to SECO does not remove the obligation to carry out further checks where there are suspicions under Article 6 of the Anti-Money Laundering Act, and to file a report with the Money Laundering Reporting Office in Switzerland under Article 9 of the Act if those suspicions cannot be dispelled.
Swiss Financial Market Supervisory Authority (FINMA) 2025-06-25
Swiss Financial Market Supervisory Authority highlights Switzerland’s updated Guatemala sanctions list and reminds intermediaries of freezing and reporting duties
FINMA announced amendments to the sanctions list for Guatemala, updated by Switzerland’s Federal Department of Economic Affairs. Financial intermediaries must implement prohibitions, freeze assets, report to SECO, and conduct checks under the Anti-Money Laundering Act. The update is in the SESAM sanctions database and effective immediately.