Swiss FINMA launches consultation on partial revised AMLO-FINMA rules to strengthen BO transparency, sanctions compliance, and correspondent banking controls – feedback until 9 June 2026

The proposed revisions place stronger emphasis on transparency and risk mitigation by requiring financial intermediaries to gain a clearer understanding of customers’ ownership and control structures, particularly where complex legal entities or layered arrangements are involved. The draft amendments also introduce more explicit obligations to prevent breaches of sanctions and coercive measures under Switzerland’s Embargo Act, reflecting growing global scrutiny around sanctions evasion and geopolitical risk exposure. In correspondent banking, the proposals tighten due diligence expectation…