FINMA Issues Supplementary Guidance on Anti-Money Laundering Risks
Swiss financial regulator FINMA updates anti-money laundering guidance for banks and FinIA institutions following recent risk analysis reviews.
The Swiss Financial Market Supervisory Authority (FINMA) has published supplementary guidance for banks and institutions regulated under the Financial Institutions Act (FinIA), following a comprehensive review of numerous money laundering risk analyses.
The updated supervisory insights expand upon previous Guidance 05/2023, incorporating new observations gathered from ongoing regulatory oversight.
While FINMA acknowledged that supervised institutions have made notable progress in their compliance frameworks, the review identified several areas requiring further improvement.
The regulator expects institutions to incorporate these findings into their ongoing risk assessments and compliance procedures.
Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.
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