Exposure to new risks of criminal liability due to the implementation of the FATF Recommendations
The Federal Act on the Implementation of the Revised FATF Recommendations will enter into force in two stages on 1 July 2015 and 1 January 2016. The new rules substantially tighten the Swiss framework for combatting money laundering, and extend beyond the financial services industry. This exposes financial intermediaries and dealers to new risks of criminal liability.
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