The Swiss Financial Market Supervisory Authority published an updated sanctions notice on Syria after the Swiss Federal Department of Economic Affairs, Education and Research amended Annex 7 to the ordinance on measures against Syria. The change updated the list of sanctioned persons, companies and organizations, and the State Secretariat for Economic Affairs revised Switzerland’s binding SESAM sanctions database accordingly. The measures took effect on 16 June 2026 at 11 p.m. For financial intermediaries, the update means they must apply the prohibitions under the ordinance, freeze the assets of sanctioned persons and report affected business relationships to the State Secretariat for Economic Affairs. Reporting to the State Secretariat does not remove the obligation to carry out additional checks under Article 6 of the Anti-Money Laundering Act where suspicions arise. If those suspicions cannot be dispelled, a report must be filed immediately with the Money Laundering Reporting Office under Article 9 of the Act.
Swiss Financial Market Supervisory Authority (FINMA)2026-06-17
Swiss Financial Market Supervisory Authority updates Syria sanctions notice after Switzerland revises sanctioned persons and entities list
The Swiss Financial Market Supervisory Authority updated its Syria sanctions notice after Switzerland revised the list of sanctioned persons, companies and organizations under the Syria measures ordinance. The related SESAM database update took effect on 16 June 2026 at 11 p.m. Financial intermediaries must implement the prohibitions, freeze relevant assets and report affected relationships, while still meeting anti-money laundering escalation duties where suspicions remain.