The federal council reported that a potential amendment of the anti-money laundering regime was being analysed.
This announcement comes after the EU noted on its AML report that the Swiss regime was insufficient and potentially harmful to the Union.
In addition, the regime comes as a reaction to the 2016 mutual evaluation report which showed deficiencies in the handling of financial intermediaries, trading of precious metals advisors and trust services providers.
The amended regime will require advisors and other professionals to report suspicions (even as per reported information, due diligence is not yet required).
The regime (if approved) will enter into effect by 2021.