This is how Keller-Sutter wants to combat money laundering

Commissioned by the Federal Council, the Finance Department has been working since October on a model for a central register for the identification of the beneficial owners of legal entities. Lawyers and notaries are also part of the template, Treasury Secretary Keller-Sutter said in an interview with Tamedia newspapers published Saturday.

“We don’t have to bang our heads against the wall. There is no point in Parliament scrapping it again. But the Bundesrat believes it is necessary,” said the finance minister. The financial center is of enormous importance for the country. “Money laundering is a reputational risk for the financial center. We have an interest in minimizing the attack surface.”

The revised Money Laundering Act came into force at the beginning of 2023. The revision included measures for financial intermediaries in the areas of beneficial ownership, timeliness of customer data and reports of suspected money laundering. However, parliament did not want new rules for lawyers, notaries and other advisers.

In an interview, Keller-Sutter described the federal government’s overall financial situation as tense. The figures are incorrect because there are too many new, unfunded expenses. “So for the 2024 estimate, we need to save two billion francs to meet the debt brake. In the next two years it will even be three billion.” The Federal Council wants to propose a stabilization program for the coming years.

In addition, according to Keller-Sutter, the personnel agency is currently investigating a study that concluded that government employees earn more than private sector employees. (SDA)

Source:Blick