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Money Laundry Law Part 1: It's coming. Period.
The new Money Laundering Act and why looking the other way is no longer a strategy
The consultation period is coming to an end. And regardless of how loud or quiet the protests are, the new Money Laundering Act is coming. Not as a revolutionary upheaval, but as a systematic expansion. Quiet, technical, but with an enormous impact.What is new is not that money laundering is to be combated. What is new is who is now being held accountable.
Advisors are becoming financial intermediaries without handling money.
The central paradigm shift is this: It is no longer only those who receive money who are relevant but those who enable transactions.
This brings the following into focus:
- Lawyers
- Real estate advisors
- M&A advisors
- Trustees
- Structuring and management consultants
- Domicile and registered office providers
- In fact: the entire consulting industry
Anyone who professionally participates in certain transactions is now considered an advisor within the meaning of the AMLA with all the associated due diligence obligations. And this even if:
- no money changes hands,
- there is no power of attorney over accounts,
- no banking relationship is maintained.
Why this is not an operational accident
This development is not unique to Switzerland. It is the consistent implementation of international FATF standards.
The logic behind it:
- Money laundering today takes place outside the bank
- in structures,
- in corporate chains,
- in real estate transactions,
- in M&A settings.
Switzerland is following suit. Not out of a desire for regulation but because of international pressure.
Conclusion Part 1:
The law will come. The question is not whether, but how well prepared you are.
LindemannLaw thus combines legal precision with technological excellence. We enable our clients to handle document processes completely digitally and at the same time in a legally secure manner in accordance with Swiss standards.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
