AMLA (Anti-Money Laundering Act)
The GwG (Federal Act on Combating Money Laundering and Terrorist Financing) is the Swiss Anti-Money Laundering Act and regulates the due diligence obligations of financial intermediaries — including payment service providers.
AMLA (Anti-Money Laundering Act)
The GwG (SR 955.0) is the central Swiss act for combating money laundering and terrorist financing. It defines who is considered a financial intermediary, which due diligence obligations must be complied with, and when a report must be made to the Money Laundering Reporting Office Switzerland (MROS).
For payment transactions, Art. 2 para. 3 GwG is particularly relevant: Anyone who provides payment transaction services on a commercial basis is considered a financial intermediary. This potentially also affects marketplace operators who accept buyer funds and forward them to sellers. Affiliation with a self-regulatory organisation (SRO) is then mandatory.
The due diligence obligations include: identification of the contractual partner (KYC), establishing the identity of the beneficial owner, documentation obligations, organisational measures, and the reporting obligation in case of suspected money laundering. For SME marketplaces, outsourcing to a regulated PSP is the easiest way to fulfil your GwG obligations without becoming a financial intermediary yourself.
AMLA examples
A marketplace forwards buyer funds to sellers and is classified as a financial intermediary in accordance with Art. 2 para. 3 AMLA. It must join an SRO.
A PSP handles payment processing for the marketplace and, as a regulated financial intermediary, complies with AMLA diligence obligations.
A platform detects a suspicious transaction and reports it to the MROS (Money Laundering Reporting Office Switzerland) via its PSP.
GwG FAQ
What is the AMLA?
The AMLA (Anti-Money Laundering Act) is the Swiss anti-money laundering law. It regulates who qualifies as a financial intermediary and which due diligence obligations must be complied with in payment transaction services.
When does a marketplace qualify as a financial intermediary?
If the marketplace provides payment services on a commercial basis — for example, accepting buyer funds and forwarding them to sellers. The threshold for commercial activity is defined in the GwV.
What is an SRO?
A self-regulatory organisation (SRO) supervises compliance with AMLA obligations by financial intermediaries on behalf of FINMA. Anyone who is considered a financial intermediary must join an SRO.
What is the MROS?
MROS (Money Laundering Reporting Office Switzerland) is the reporting office for money laundering at the Federal Office of Police. Financial intermediaries must report suspicious transactions to MROS.
