Global menu

Our global pages


Legal Compass: Anti-money laundering law reform in the United States: Swiss banks caught between a rock and a hard place

  • Switzerland


    Bad news for Swiss banks: under the new 2020 U.S. Anti-Money Laundering Act, US criminal investigative authorities can (directly!) demand Swiss banks to disclose a wide range of client documents. Swiss banking secrecy is no valid defence. Neither is the argument that disclosure would be a crime under Swiss law. Swiss banks should prepare upfront as deadlines for disclosure can be short.

    Read more

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back