CEU Electronic Theses and Dissertations, 2023
| Author | Giovanni Asteggiano |
|---|---|
| Title | The new Swiss anti-money laundering reform inthe international framework: a critical assessment |
| Summary | Despite its small dimension, Switzerland plays a primary role in the global capital flow, and where there are developed financial markets, there are chances for the criminal economy, financial crimes, tax evasion, money laundering, and terrorism financing as concrete threats to the legal economy. In this framework, the development of advanced anti-money laundering policies able to counter the development of a criminal submerged economy plays a central role. However, the single national dimension is insufficient to face the threat of financial crime that moves across borders. In order to strengthen the fight against these criminal activities, international organisations like the OECD or the UN have moved their attention to this issue and developed binding instruments to face the issue. For the same reason, in the year 1989 the G7 launched an initiative to create an intergovernmental organisation aimed exclusively at countering money laundering through soft law, the FATF/GAFI. All those international institutions aim to coordinate the national anti-money laundering policies and set standards addressing generic and specific recommendations and facilitating treaties between those countries. Switzerland approved its current Anti-Money Laundering Act in the year 1997. Since then, the legislation has passed through several reforms that have shaped it differently, the last one has been approved in the year 2021 and entered into force on the 1st of January 2023. This research aims to investigate this last reform, the reason and needs that have been brought to it, and whether and to what extent it is compliant with the recommendation of international organisations. In order to successfully reply to those questions, the research should start with a general overview of the international standards concerning anti-money laundering, and a general overview and analysis of the current anti-money laundering legislative framework in Switzerland, the criminal aspects, the duty of the operators, and the vigilance system. In the second place, this work will try to go deeper into some issues that the more recent reform of the anti-money laundering act reform have tried to face. The research will focus in particular on some specific issues of the new reform: the scope of the Anti-money Laundering Act, the due diligence obligations, and the reporting system. |
| Supervisor | Tajti Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2023/asteggiano_giovanni.pdf |
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