On 29 April 2015 the Swiss government, the Federal Council in Berne, announced that the revised Financial Action Task Force (FATF) recommendations of 2012 will come into effect in two stages.

Some of the recommendations will apply as of 1 July 2015, while some will apply from 1 January 2016.

The main focus of the new provisions is on

(a) enhanced transparency for legal persons,

(b) expanding the range of predicate offences to which money laundering regulation applies, to include qualified tax crimes, and

(c) restrictions on cash payments in excess of CHF 100,000.

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