What Changed
- UN Sanctions Committee amended the sanctions list for ISIL (Da'esh) and Al-Qaeda on 28 September 2026.
- SECO adjusted the Swiss SESAM sanctions database on 29 September 2026 following direct applicability in Switzerland.
- FINMA reminded financial intermediaries of mandatory asset freezing, SECO reporting, and AMLA reporting duties under Articles 6 and 9 GwG.
Financial intermediaries operating in Switzerland are directly affected by updated sanction measures concerning ISIL (Da'esh) and Al-Qaeda. Following a decision by the competent UN Sanctions Committee on 28 September 2026 to amend the list of sanctioned individuals, companies, and organizations, the changes became directly applicable in Switzerland.
In response, the State Secretariat for Economic Affairs (SECO) updated the Swiss sanctions database, SESAM (SECO Sanctions Management), on 29 September 2026 and published the details on its website.
Financial intermediaries must implement the specified prohibitions, freeze assets of designated persons, and report affected business relationships to SECO. FINMA emphasizes that reporting to SECO does not exempt financial intermediaries from conducting further investigations under Article 6 of the Anti-Money Laundering Act (AMLA/GwG) if suspicion arises. If suspicious circumstances cannot be dispelled, intermediaries must immediately submit a report to the Money Laundering Reporting Office Switzerland (MROS) pursuant to Article 9 AMLA/GwG.
Who May Be Affected
Financial intermediaries in Switzerland and entities maintaining financial relationships with individuals or organizations targeted by UN/SECO sanctions.
Cross-Border Context
Measures derive from international UN Sanctions Committee decisions directly implemented into Swiss law and financial regulation.
What to check next
- Check the SECO SESAM database for specific additions to the designated persons list.
- Review compliance procedures regarding Art. 6 and Art. 9 AMLA (GwG) reporting requirements.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.
Prepared automatically with AI assistance from the official sources linked on this page. Translated from German source content Translations and explanations do not replace the official text.