The Swiss Financial Market Supervisory Authority (FINMA) published an update alerting financial intermediaries that the Federal Department of Economic Affairs, Education and Research has amended Annex 1 to the Ordinance on Measures against Venezuela, changing the list of sanctioned persons, companies and organisations. The changes were reflected in Switzerland’s SESAM (SECO Sanctions Management) sanctions database and enter into force on 13 January 2026 at 23:00. Financial intermediaries are required to implement the relevant prohibitions, freeze assets of sanctioned persons and report affected business relationships to the State Secretariat for Economic Affairs (SECO). Reporting to SECO does not remove the obligation to carry out additional clarifications in case of suspicion under Article 6 of the Anti-Money Laundering Act and, if suspicions cannot be dispelled, to file a report with the Money Laundering Reporting Office under Article 9.
Swiss Financial Market Supervisory Authority (FINMA) 2026-01-13
Swiss Financial Market Supervisory Authority relays updated Venezuela sanctions list and reiterates asset-freezing and reporting duties
FINMA announced amendments to the sanctioned entities list under the Ordinance on Measures against Venezuela, effective 13 January 2026, requiring financial intermediaries to implement prohibitions, freeze assets, and report to SECO. Compliance does not exempt intermediaries from further clarifications or reporting to the Money Laundering Reporting Office if suspicions arise.