Switzerland's Federal Department of Finance publishes Federal Council-approved national strategy to combat money laundering and terrorist financing

Switzerland's Federal Department of Finance has published the Federal Council’s strategy on combating money laundering and terrorist financing, providing the first comprehensive overview of Switzerland’s approach and setting a common framework for the authorities involved. The strategy positions the Swiss “defence framework” as risk-based and coordinated, with the aim of further strengthening existing arrangements. Priorities for the coming years include introducing and using the transparency register approved by Parliament, developing practical instruments for criminal prosecution, and strengthening supervisory authorities. The strategy also points to planned improvements to databases, preparation of a third national risk assessment, enhanced cooperation across federal units and with the private sector, and continued adaptation of tools and approaches for asset recovery. It is primarily directed at the offices and authorities in the Coordinating Group on Combating Money Laundering, Terrorist Financing and Proliferation Financing, and is aligned with the national strategy for combating organised crime adopted by the Federal Council at the end of last year.