Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America, Latin America, Asia-Pacific, Middle East and Africa: 2,207 cases from 44 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.
Click a bar to drill down one level.
Where?
by authority- Eidgenössische Finanzmarktaufsicht (FINMA) €27.5m 66 % · 11 cases
- Bundesanwaltschaft €10.1m 24 % · 4 cases
- Bundesstrafgericht (Strafkammer), Anklage der Bundesanwaltschaft €3.23m 8 % · 1 case
- Bundesanwaltschaft (BA) €767,971 2 % · 1 case
- Eidgenössischer Datenschutz- und Öffentlichkeitsbeauftragter (EDÖB) – 0 % · 2 cases
- Bundesverwaltungsgericht (A-3891/2025) auf Verfügung des EDÖB vom 28.04.2025 – 0 % · 1 case
What for?
by area of lawAll areas of law
Who?
by company- Anonymised companies €18.3m 44 % · 8 cases
- Leonteq AG (Finanzgruppe Leonteq) €9.98m 24 % · 1 case
- Bank J. Safra Sarasin AG €3.73m 9 % · 1 case
- Banque Lombard Odier & Cie SA €3.23m 8 % · 1 case
- J.P. Morgan (Suisse) SA €3.2m 8 % · 1 case
- Banque Pictet et Cie SA €2.13m 5 % · 1 case
- Morgan Stanley (Switzerland) GmbH €1.06m 3 % · 1 case
- Cembra Money Bank AG – 0 % · 1 case
- Inkasso-Team AG – 0 % · 1 case
- MBaer Merchant Bank AG – 0 % · 1 case
- 3 more€0
When?
per year, by date of decision| Period | Cases | Total |
|---|---|---|
| 2023 | 3 | – |
| 2024 | 6 | €28.3m |
| 2025 | 6 | €10.1m |
| 2026 | 5 | €3.23m |
20 cases
27 Jul 2026 Banque Lombard Odier & Cie SAFederal Criminal Court fines Banque Lombard Odier CHF 3 million over money laundering €3.23m
The Bundesstrafgericht (Federal Criminal Court) found Banque Lombard Odier & Cie SA guilty of failing to take adequate organisational measures against aggravated money laundering by a former relationship manager who in 2011 and 2012 handled accounts of a criminal organisation holding proceeds of corruption in the Uzbek telecommunications market; despite warning signs, the bank's anti-money-laundering functions did not sufficiently ensure that the origin and purpose of the funds were investigated and documented. The bank was fined CHF 3,000,000 and bears procedural costs of CHF 24,561.49; it was acquitted on the remaining charges, and proceedings for acts before 27 July 2011 were dismissed as time-barred. The judgment is not final.
Warning signs about the origin of large inflows must be investigated and documented by the anti-money-laundering function itself, not just by the relationship manager.
Anti-money-laundering: investigating conspicuous inflows and documentation
- Authority / court
- Bundesstrafgericht (Strafkammer), Anklage der Bundesanwaltschaft
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Art. 102 Abs. 2 StGB i.V.m. Art. 305bis Ziff. 1 und 2 StGB (Urteil SK.2023.42)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- The long time elapsed since the offences (2011/2012) was taken into account as mitigating.
- Published
- 27 Jul 2026
Original amount 3,000,000 CHF, converted at the ECB reference rate of 27 Jul 2026.
- Bundesstrafgericht, Medienmitteilung vom 27.07.2026 (SK.2023.42) Court press release
- Bundesstrafgericht, Dispositiv SK.2023.42 vom 27. Juli 2026 (englische Fassung, anonymisiert) Court decision
- BA-Medienmitteilung vom 29.11.2024: Bank Lombard Odier und ein ehemaliger Mitarbeiter wegen schwerer Geldwäscherei beim Bundesstrafgericht angeklagt Press release of an authority
Checked against the official source on 2 Oct 2026 · Direct link
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22 Jun 2026 Inkasso-Team AGFederal Administrative Court upholds FDPIC: Inkasso-Team was not allowed to publish debtor data Order
The debt collection company posted personal data of alleged debtors on the internet, some of it particularly sensitive, in order to obtain information on their whereabouts and to warn third parties. The Swiss Federal Administrative Court (Bundesverwaltungsgericht, A-3891/2025) upheld the ruling of the Federal Data Protection and Information Commissioner (EDÖB) of 28 April 2025, according to which this constitutes an unjustified violation of privacy.
Publicly naming and shaming debtors cannot be justified under data protection law – debt collection must use less intrusive means.
- Authority / court
- Bundesverwaltungsgericht (A-3891/2025) auf Verfügung des EDÖB vom 28.04.2025
- Area of law
- Data protection · Data subject rights and transparency
- Legal basis
- DSG Art. 6, Art. 19, Art. 31
- Action
- Order
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 20 Aug 2026
- Bundesverwaltungsgericht bestätigt Entscheid des EDÖB Press release of an authority
- Urteil des Bundesverwaltungsgerichts A-3891/2025 vom 22. Juni 2026 Court decision
Checked against the official source on 25 Sep 2026 · Direct link
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3 Jun 2026 Wendelspiess Partners AG in LiquidationFINMA: Wendelspiess Partners breached FIDLEG duties, licence revoked Order
Wendelspiess Partners AG invested almost all the money of its more than 400 clients in a barely diversified foreign fund it had set up and managed itself, which invested mainly in a Zug-based investment company and companies linked to it; it gave insufficient information about conflicts of interest and risks, carried out no suitability check and withheld relevant information from the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority). FINMA revoked the licence as an asset manager of the company, which is now bankrupt. Measures against individuals are not set out here. The decision is not final.
In-house funds in client portfolios are a classic conflict of interest that must be disclosed and backed by a documented suitability check.
Conflicts of interest with in-house funds; information and suitability duties
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Verhaltenspflichten nach dem Finanzdienstleistungsgesetz (FIDLEG): Interessenkonflikte, Information, Eignungsprüfung; Auskunftspflicht gegenüber der FINMA
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Liability of senior managers
- Measures against individuals are not set out here.
- Published
- 3 Jun 2026
- FINMA-Medienmitteilung vom 03.06.2026: FINMA beendet Verfahren gegen die Wendelspiess Partners AG Press release of an authority
Checked against the official source on 5 Oct 2026 · Version 3 · Direct link
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1 May 2026 Swiss Fund Management AG in Liquidation; BZ Berater Zentrum AGFINMA revokes Swiss Fund Management's licence and confiscates BZ commissions Order
Swiss Fund Management AG in liquidation and BZ Berater Zentrum AG, which held around 2,000 asset management mandates, channelled investor money of around CHF 200 million, directly or via funds, into illiquid bonds of interlinked issuers that financed real estate projects of related companies, without adequately informing investors about the conflicts of interest and without adequate suitability and appropriateness checks under FIDLEG (Swiss Financial Services Act). By ruling of 1 May 2026 the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) revoked SFM's licence as a manager of collective assets, rejected BZ's application for a licence as an asset manager and confiscated placement commissions of more than CHF 3 million from BZ. The ruling is final.
Anyone steering client money into products of related companies must disclose the conflicts of interest and document a suitability check for each client.
Conflicts of interest and suitability checks in asset management
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Verhaltensregeln nach dem Finanzdienstleistungsgesetz (FIDLEG): Interessenkonflikte, Eignungs- und Angemessenheitsprüfung
- Action
- Order
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 29 Jun 2026
Checked against the official source on 2 Oct 2026 · Direct link
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27 Feb 2026 MBaer Merchant Bank AGFINMA withdraws MBaer Merchant Bank's licence over serious anti-money laundering deficiencies Order
Following enforcement proceedings, the Swiss Financial Market Supervisory Authority (FINMA) found serious, systematic deficiencies in anti-money laundering due diligence, organisation and risk management; the bank enabled clients to circumvent official asset freezes and executed transactions for sanctioned persons. FINMA had withdrawn the bank's licence and ordered its liquidation; with the withdrawal of the appeal before the Federal Administrative Court, the orders took effect on 27 February 2026. The day before, FinCEN had proposed designating the bank as an institution of primary money laundering concern.
Systematic anti-money laundering and sanctions deficiencies can cost a bank its licence – not just money.
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Schweizer Geldwäschereirecht und Bankenaufsichtsrecht (laut FINMA)
- Action
- Order
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Employees
- 50 to 249
- Published
- 27 Feb 2026
- FINMA-Verfahren: MBaer Merchant Bank AG in Liquidation Press release of an authority
- Massnahmen bei MBaer Merchant Bank AG Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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22 Aug 2025 Bank J. Safra Sarasin AGBank J. Safra Sarasin: 3.5 million CHF fine for money laundering in the Petrobras complex €3.73m
Between 2011 and 2014, the bank did not take all the necessary organisational precautions, with the result that bribes flowed to Petrobras executives through several account relationships (around 71 million USD in attempted or completed aggravated money laundering). Fine of 3.5 million CHF; because of a settlement of 16 million CHF with Petrobras, the Office of the Attorney General of Switzerland (Bundesanwaltschaft, OAG) waived a compensation claim.
Unusual payment flows involving clients close to PEPs must be escalated and, if necessary, rejected – responsibility lies with the bank as an organisation.
Anti-money laundering and PEP clients
- Authority / court
- Bundesanwaltschaft
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Art. 102 Abs. 2 StGB i. V. m. Art. 305bis Abs. 1 und 2 StGB
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Time elapsed since the offence, organisational corrective measures after the affair became known; no compensation claim because of the payment of 16 million CHF to Petrobras.
- Published
- 22 Aug 2025
Original amount 3,500,000 CHF, converted at the ECB reference rate of 22 Aug 2025.
- Bundesanwaltschaft verurteilt Bank J. Safra Sarasin AG (Strafbefehl) Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 2 · Direct link
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22 Aug 2025 J.P. Morgan (Suisse) SAJ.P. Morgan (Suisse): 3 million CHF fine in the 1MDB complex for deficient anti-money laundering controls €3.2m
Between October 2014 and July 2015, around 174 million CHF from predicate offences in the 1MDB complex passed through the bank in 43 transfers, even though negative information about the Petrosaudi managers involved was publicly available. The Office of the Attorney General of Switzerland (Bundesanwaltschaft) convicted the bank by summary penalty order and imposed 3 million CHF; a compensation claim was waived because the 1MDB fund is being compensated as a private claimant.
Publicly available negative information about clients must feed into the risk assessment and be capable of stopping transactions.
Customer due diligence and adverse media screening
- Authority / court
- Bundesanwaltschaft
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Art. 102 Abs. 2 StGB i. V. m. Art. 305bis Abs. 1 und 2 StGB
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Time elapsed since the offence, very good cooperation in the proceedings, compensation of the private claimant (1MDB).
- Published
- 22 Aug 2025
Original amount 3,000,000 CHF, converted at the ECB reference rate of 22 Aug 2025.
- Fall 1MDB: Bank JP Morgan Suisse mit Strafbefehl verurteilt Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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17 Jun 2025 Banque Pictet et Cie SABanque Pictet: 2 million CHF fine for laundering Petrobras bribes €2.13m
Between 2010 and 2013, 54 transfers were processed through the bank by which bribes of around 4.1 million USD connected with SBM Offshore's charter contracts with Petrobras were concealed. The bank had not classified high-risk accounts as such and had inadequately monitored transfers; the Office of the Attorney General of Switzerland (Bundesanwaltschaft) imposed a fine of 2 million CHF on the bank.
Risk classification and transaction monitoring must take effect before individual relationship managers approve payments.
High-risk clients and transaction monitoring
- Authority / court
- Bundesanwaltschaft
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Art. 102 Abs. 2 StGB i. V. m. Art. 305bis und Art. 322septies StGB
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Time elapsed since the offence, very good cooperation, organisational corrective measures after the Petrobras affair became known.
- Published
- 17 Jun 2025
Original amount 2,000,000 CHF, converted at the ECB reference rate of 17 Jun 2025.
- Banque Pictet et Cie SA und ehemaliger Vermögensverwalter per Strafbefehl verurteilt Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 2 · Direct link
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16 May 2025 PostFinance AGEDÖB orders PostFinance to obtain explicit consent for voice recognition Order
PostFinance AG created voiceprints of its customers for authentication by voice recognition without obtaining their active consent; customers who did not want this had to object themselves. The Eidgenössischer Datenschutz- und Öffentlichkeitsbeauftragter (EDÖB, Federal Data Protection and Information Commissioner) considered this processing of biometric data disproportionate and, by ruling of 16 May 2025, ordered PostFinance to obtain explicit consent in future and to delete voiceprints for which no such consent exists. PostFinance has appealed to the Federal Administrative Court.
Biometric procedures need an active opt-in from the individuals concerned; a mere right to object is not enough.
Biometric authentication and consent (opt-in instead of opt-out)
- Authority / court
- Eidgenössischer Datenschutz- und Öffentlichkeitsbeauftragter (EDÖB)
- Area of law
- Data protection · Data subject rights and transparency
- Legal basis
- Bundesgesetz über den Datenschutz (DSG): Grundsatz der Verhältnismässigkeit; biometrische Daten als besonders schützenswerte Personendaten, ausdrückliche Einwilligung
- Action
- Order
- Status of proceedings
- under appeal
- Sector
- Financial services and insurance
- Published
- 7 Aug 2025
- EDÖB-Mitteilung vom 07.08.2025: EDÖB schliesst Untersuchung zur Stimmerkennung bei PostFinance ab Press release of an authority
Checked against the official source on 2 Oct 2026 · Direct link
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27 Feb 2025 Morgan Stanley (Switzerland) GmbHMorgan Stanley (Switzerland): 1 million CHF fine for organisational deficiency in money laundering case €1.06m
In 2010, the company's legal predecessor did not take all necessary and reasonable organisational precautions to prevent a relationship manager from committing aggravated money laundering with assets derived from bribery offences in Greece. The Office of the Attorney General of Switzerland (Bundesanwaltschaft) concluded the proceedings with a summary penalty order of 1 million CHF.
Under corporate criminal law, organisational deficiencies do not become time-barred when the employee leaves – controls must be demonstrably effective.
- Authority / court
- Bundesanwaltschaft
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Art. 102 Abs. 2 StGB i. V. m. Art. 305bis StGB
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 27 Feb 2025
Original amount 1,000,000 CHF, converted at the ECB reference rate of 27 Feb 2025.
- Bundesanwaltschaft schliesst Strafuntersuchung gegen Morgan Stanley (Switzerland) GmbH mit Strafbefehl ab Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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29 Jan 2025 Cembra Money Bank AGFDPIC ruling: Cembra Money Bank answered access requests too late and in generic terms Order
From December 2023 to September 2024, Cembra answered 9 of 13 access requests after the 30-day deadline had expired, and responded to all 13 people only with standard letters instead of the data actually processed about them. The Swiss Federal Data Protection and Information Commissioner (Eidgenössischer Datenschutz- und Öffentlichkeitsbeauftragter, EDÖB) required the bank to provide the data subsequently.
Access requests need a process with resources and deadline monitoring – boilerplate text is no substitute for genuine disclosure of data.
Handling access requests
- Authority / court
- Eidgenössischer Datenschutz- und Öffentlichkeitsbeauftragter (EDÖB)
- Area of law
- Data protection · Data subject rights and transparency
- Legal basis
- DSG Art. 25 Abs. 2 lit. b, Art. 25 Abs. 7
- Action
- Order
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 1 Jul 2025
- Verfügung des EDÖB gegen die Cembra Money Bank AG Press release of an authority
- Verfügung des EDÖB vom 29. Januar 2025 gegen Cembra Money Bank AG Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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12 Dec 2024 Leonteq AG (Finanzgruppe Leonteq)Leonteq: distribution via unregulated partners – confiscation of 9.3 million CHF in profits €9.98m
The Swiss Financial Market Supervisory Authority (FINMA) found serious breaches of risk management obligations and of the requirement to guarantee irreproachable business conduct: the financial group monitored its distribution chain inadequately and in some cases worked with dubious, unregulated distributors that sold products in countries not intended for them without authorisation. FINMA ordered governance requirements, the termination of these relationships, the appointment of an audit agent and the confiscation of 9.3 million CHF in profits; the ruling was not yet final at the time of publication.
Anyone who distributes via third parties is liable for their regulatory status – sales partners require due diligence just like customers.
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Finanzmarktaufsichtsgesetz (FINMAG)
- Action
- Disgorgement of profits
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Good cooperation in the proceedings; Leonteq had already strengthened compliance and distribution controls of its own accord and terminated relationships with suspicious distributors
Original amount 9,300,000 CHF, converted at the ECB reference rate of 12 Dec 2024.
- FINMA schliesst Verfahren gegen Leonteq ab Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 2 · Direct link
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17 Sep 2024 a Swiss private bankFINMA: private bank seriously breached AML duties, CHF 12.7 million confiscated €13.5m
The Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) found that the bank, despite warnings, inadequately checked and documented beneficial ownership and the background of transactions in business relationships with complex structures possibly attributable to a now-deceased businessman accused of tax evasion, which at times held up to USD 1.7 billion. FINMA confiscated CHF 12.7 million of unlawfully earned profits, prohibited the bank from taking on new clients with increased money-laundering risks until compliance is restored, ordered a review of all client relationships and of higher-risk transactions from 2018 to 2022, and appointed an audit agent. The ruling issued in June 2023 has been final since August 2023.
Since aggravated tax offences count as predicate offences, banks must investigate tax-risk warning signs just like other money-laundering risks.
Aggravated tax offences as a predicate offence to money laundering; duty to investigate
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Finanzmarktaufsichtsrecht: Geldwäschereiprävention, angemessene Organisation und Risikomanagement (Einziehung zugunsten der Staatskasse)
- Action
- Disgorgement of profits
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- The bank cooperated in the proceedings and took its own organisational, operational and personnel measures during the proceedings.
- Liability of senior managers
- FINMA opened three enforcement proceedings against individuals.
- Published
- 17 Sep 2024
Original amount 12,700,000 CHF, converted at the ECB reference rate of 17 Sep 2024.
- FINMA, News (Übersicht) (Entscheidung 2024) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 17 Sep 2026 · Direct link
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18 Jun 2024 a Swiss private bankFINMA: Swiss private bank breached anti-money laundering rules for two PEPs Order
The Swiss Financial Market Supervisory Authority (FINMA) found that, for two politically exposed persons, the bank insufficiently clarified the origin and purpose of assets – transactions of more than 300 million USD from a Lebanese state institution between 2002 and 2015 – and only reported them to the reporting office in September 2020. It ordered a review of all PEP relationships, a ban on new PEP relationships until the review is completed and the appointment of an audit agent; the decision was not final at the time of publication (date of the announcement used as decision date).
In PEP relationships, document the origin and purpose of large payments; a report made years later is no report.
Dealing with politically exposed persons (PEPs)
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Schweizer Geldwäschereirecht (laut FINMA)
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 18 Jun 2024
- FINMA, News (Übersicht) (Entscheidung 2024) Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 4 · Company name anonymised since 18 Jun 2026 · Direct link
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28 Mar 2024 a Swiss private bankPrivate bank fined CHF 750,000 for organisational failings over money laundering €767,971
In the Lava Jato case complex, the Bundesanwaltschaft (BA, Office of the Attorney General of Switzerland) found that between 2011 and 2014 a Swiss private bank did not adequately establish beneficial owners and the background of transactions at its Lugano office, enabling two employees to commit money laundering exceeding USD 20 million. By summary penalty order of 28 March 2024 the bank was fined CHF 750,000; the BA dropped the charge of bribery of foreign public officials. The bank waived its right to object, so the penalty order becomes final.
For accounts with conspicuous structures, beneficial ownership must be checked independently of the relationship manager.
Establishing beneficial owners and front-man structures
- Authority / court
- Bundesanwaltschaft (BA)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Art. 102 Abs. 2 StGB i.V.m. Art. 305bis Ziff. 2 StGB
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- The bank's cooperation with the Office of the Attorney General was taken into account.
- Published
- 4 Apr 2024
Original amount 750,000 CHF, converted at the ECB reference rate of 28 Mar 2024.
- Bundesanwaltschaft, Medienmitteilungen (Übersicht) (Entscheidung 2024) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 28 Mar 2026 · Direct link
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25 Mar 2024 a Swiss bankFINMA confiscates 3.9 million CHF in profits from Swiss bank €4.01m
The Swiss Financial Market Supervisory Authority (FINMA) found serious infringements of anti-money laundering rules in PEP relationships: insufficient clarification of the origin of assets, failure to report to the reporting office despite unexplained transaction purposes and a serious breach of the duty to provide information, because a critical internal audit report was not handed over. It confiscated 3.9 million CHF in profits, imposed a capital surcharge of 19 million CHF and a two-year ban on new PEP and high-risk relationships (date of the announcement used as decision date).
Withholding critical audit reports from the supervisory authority considerably aggravates a money laundering case.
PEP clarifications and openness towards the supervisory authority
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Money laundering and terrorist financing · Suspicious activity reports
- Legal basis
- Schweizer Geldwäschereirecht; Gewinneinziehung und Auskunftspflicht nach Finanzmarktaufsichtsrecht (laut FINMA)
- Action
- Disgorgement of profits
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 25 Mar 2024
Original amount 3,900,000 CHF, converted at the ECB reference rate of 25 Mar 2024.
- FINMA, News (Übersicht) (Entscheidung 2024) Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 4 · Company name anonymised since 25 Mar 2026 · Direct link
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8 Mar 2024 a small Swiss bankFINMA revokes a small Swiss bank's licence and later opens bankruptcy proceedings Order
The bank repeatedly breached capital requirements and organisational and risk-management requirements, kept faulty accounts, breached duties to provide information and report, and despite a ban on risk-increasing business took on higher-risk client relationships without clarifying their background; the deficiencies persisted despite measures already ordered in 2022. On 8 March 2024 the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) revoked the bank's licence and found that it no longer offered the guarantee of irreproachable business conduct; because minimum capital was clearly undershot and over-indebtedness was feared, FINMA opened bankruptcy proceedings on 13 June 2024. At that time the licence revocation was under appeal before the Federal Administrative Court.
Supervisory requirements must be implemented on time; a firm that takes on new risks while deficiencies remain open will ultimately lose its licence.
Capital, organisation and due diligence at small banks
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Bankenaufsichtsrecht: Eigenmittelvorschriften, Organisation und Risikomanagement, Sorgfaltspflichten zur Geldwäschereibekämpfung; Bewilligungsentzug
- Action
- Order
- Status of proceedings
- under appeal
- Sector
- Financial services and insurance
- Employees
- 50 to 249
- Repeat case
- yes
- Published
- 13 Jun 2024
- FINMA, News (Übersicht) (Entscheidung 2024) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 8 Mar 2026 · Direct link
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24 Jul 2023 a Swiss major bankHedge fund collapse: FINMA finds serious risk management failings at major bank Order
The bank held a position of 24 billion USD vis-à-vis a hedge fund, responded inadequately to limit breaches and paid out a further 2.4 billion USD shortly before the collapse. FINMA found serious and systematic breaches of organisational requirements and ordered the bank's legal successor to introduce group-wide position limits and risk-based remuneration.
Escalate concentration risks and limit breaches on a mandatory basis – remuneration must not ignore the risks taken.
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Bankengesetz (Organisations- und Risikomanagementpflichten)
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Liability of senior managers
- Measures against individuals are not reported here.
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 5 · Company name anonymised since 24 Jul 2025 · Direct link
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17 May 2023 a Swiss crypto foundation in bankruptcyFINMA: Swiss crypto foundation sold tokens without the required licence Other
In 2021 the foundation sold its own tokens to around 500 private individuals for around EUR 3 million in an initial coin offering, although the announced learning platform with marketplace never went live; the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) classed the token as a hybrid token with the character of a security and found that the foundation, together with its founder, had acted without authorisation as a securities firm and had also acted without authorisation as a financial intermediary, and had breached its duty to provide information. Because bankruptcy proceedings had already been opened against the foundation in March 2023 owing to over-indebtedness, FINMA only formally established the serious breach of supervisory law. The ruling was not final at the time of publication.
Anyone selling tokens to the public must first establish whether they count as securities or means of payment and require a licence.
Licensing requirements for token sales (ICOs)
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision
- Legal basis
- Finanzmarktrecht: unerlaubte Tätigkeit als Wertpapierhaus und als Finanzintermediärin; Auskunftspflicht gegenüber der FINMA
- Action
- Other
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 17 May 2023
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 17 May 2025 · Direct link
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28 Feb 2023 a Swiss major bankFINMA: Swiss major bank seriously breached supervisory law over supply-chain finance funds Order
The bank had launched four supply-chain finance funds with companies of an external financing group, which were closed in March 2021 holding around USD 10 billion of client money; the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) found that the bank had in practice left the selection and review of receivables to the partner, had warnings handled by functions that were not independent and gave FINMA partly incorrect information, and classed this as a serious breach of its duties regarding risk management and organisation. FINMA ordered that the executive board periodically review the around 500 most important business relationships for counterparty risks and that the responsibilities of the around 600 most senior managers be recorded in writing; an audit agent monitors implementation.
Anyone distributing a partner's products under their own name must assess the risks themselves and have warnings investigated independently.
Risk management for partner products; handling internal warnings
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Finanzmarktaufsichtsrecht: Pflichten zu Risikomanagement und angemessener Betriebsorganisation; Pflichten als Asset Managerin
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Liability of senior managers
- FINMA opened four enforcement proceedings against former managers of the bank and requires a responsibilities document for the most senior managers in future.
- Published
- 28 Feb 2023
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 28 Feb 2025 · Direct link