COVERAGE

Compliance Built for Swiss Businesses

Designed for Switzerland’s unique regulatory landscape, we provide dependable compliance tools that keep your processes protected, compliant, and uninterrupted.

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Who are the regulators in Switzerland?

FINMA (Swiss Financial Market Supervisory Authority)

FINMA supervises Switzerland’s financial institutions—including banks, insurers, and asset managers, ensuring they meet AML standards and effectively combat financial crime.

Ordinance on Combating Money Laundering and Terrorist Financing in the Financial Sector (AMLO-FINMA)

Establishes detailed requirements for customer due diligence, transaction monitoring, and AML compliance for financial institutions.

Money Laundering Reporting Office Switzerland (MROS)

MROS, Switzerland’s Financial Intelligence Unit, analyzes STRs from banks and regulated entities, identifies money laundering patterns, refers criminal cases to authorities, and shares intelligence internationally.

Office of the Attorney General of Switzerland (OAG)

The OAG leads investigations and prosecutions of money laundering, terrorist financing, and financial crimes in Switzerland, working with law enforcement and international bodies to prosecute offenders and seize illicit assets.

Who is regulated in Switzerland?

Financial Institutions (FIs)

Who are classified as FIs?

Banks
Payment and e-Money Institutions
Investment Firms
Insurers
Securities Firms
Asset Managers
VASPs
Trustees

Designated Non-financial Businesses and Professions (DNFBPs)

Who are classified as DNFBPs?

Real Estate Agents
Dealers in Precious Metals and Stones
Lawyers
Accountants
TCSPs
Gambling Establishments

Expectations for regulated firms

Firms must apply a risk-based approach, perform Customer Due Diligence (CDD) and beneficial-owner checks, conduct ongoing transaction monitoring, and file Suspicious Transaction Reports (STRs) to MROS. Appointing qualified AML officers and documented internal controls is required for supervised entities.

AML/KYC Checklist for Switzerland

  • Verify identity of natural and legal persons; identify and verify beneficial owners.
  • Carry out risk profiling (PEP checks, sanctions, geography, product/channel risk).
  • Apply Enhanced Due Diligence (EDD) for high-risk clients and document source of funds where required.
  • Maintain records and evidence of CDD and screening for the statutory retention period.

Supervision & Enforcement

FINMA supervises supervised financial intermediaries, issues guidance, and conducts on-site/off-site reviews; MROS (Fedpol) is the FIU that analyses STRs and forwards intelligence to law enforcement. Authorities can impose measures, remedial orders, and sanctions where controls are deficient.

Supported ID documents from Switzerland

National ID

Idenfo can verify the Swiss National ID (Carte d’Identité), issued by the Swiss Federal Office of Civil Status, ensuring accurate data matching and full compliance with Swiss regulatory requirements.

Document Verification

  • Evaluates document quality by checking for glare or blur.
  • Identifies any signs of tampering or forgery within the document.
  • Confirms the authenticity of hologram prints.
  • Extracts key data using optical character recognition (OCR).

NFC Scanning

  • Reads data from the identity card's NFC chip.
  • Verifies the NFC chip data for integrity and authenticity.

Swiss Passport

Idenfo verifies Swiss passports issued by the Swiss Federal Office of Civil Status, confirming the holder’s name, date of birth, and contact details as part of Enhanced Due Diligence for KYC in Switzerland.

Document Verification

  • Evaluates document quality by detecting glare or blur.
  • Identifies potential tampering or forgery.
  • Verifies the document’s format for accuracy.
  • Cross-checks data against the MRZ code and hologram.

NFC Scanning

  • Reads data from the passport's NFC chip.
  • Verifies the NFC chip data for integrity and authenticity.

How it works

Document Capture

Scan and extract key identity details from official documents.

Liveness Check

Ensure the person is real and matches their verified ID photo.

Data Verification

Cross-check personal details against trusted government sources.

Risk Screening

Assess AML and sanctions risks before onboarding customers.

User Authentication

Simplify returning logins with secure biometric authentication.

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