The Swiss Financial Market Supervisory Authority (FINMA) has published an update noting that Switzerland’s Federal Department of Foreign Affairs has amended the annex to the ordinance on freezing of assets in connection with Syria, updating the scope of assets subject to freezing measures. The amendment takes effect on 31 July 2025 at 18:00. Under the Federal Act on the Freezing and Restitution of Illicit Assets of Foreign Politically Exposed Persons, any persons or institutions in Switzerland that hold or manage assets of persons covered by a freezing measure, or that otherwise become aware of such assets, must freeze them without delay and report them to the Money Laundering Reporting Office Switzerland (MROS). The obligation applies in particular to financial intermediaries.
Swiss Financial Market Supervisory Authority (FINMA) 2025-07-31
Swiss Financial Market Supervisory Authority flags Swiss update to the Syria asset-freezing annex effective 31 July 2025 at 18:00
The Swiss Financial Market Supervisory Authority (FINMA) announced that Switzerland's Federal Department of Foreign Affairs has amended the annex to the ordinance on asset freezing related to Syria, effective 31 July 2025. Under the Federal Act on the Freezing and Restitution of Illicit Assets of Foreign Politically Exposed Persons, entities in Switzerland must freeze and report relevant assets to the Money Laundering Reporting Office Switzerland (MROS), particularly affecting financial intermediaries.