At its session on 22 May last, the Federal Council adopted to Parliament the message concerning the law on the transparency of legal persons, which aims to improve the fight against money laundering.

The project on improving the fight against money laundering provides for the introduction of a federal register of beneficial owners, due diligence obligations applicable to members of the legal professions who carry out particularly risky activities, as well as 39; other measures that will strengthen the integrity and competitiveness of the Swiss financial and economic center. These measures correspond to international standards. Money laundering and terrorist financing activities are a serious threat to the integrity of the financial system. For this, an effective system to combat financial crime is essential to guarantee the good reputation and success of a global, secure and future-oriented financial and economic center.