AMLA (Anti-Money Laundering Act)
The AMLA (Anti-Money Laundering Act) is the Swiss anti-money laundering law and regulates the due diligence obligations of financial intermediaries — including payment service providers.
AMLA (Anti-Money Laundering Act)
The AMLA (SR 955.0) is the central Swiss act for combating money laundering and terrorist financing. It defines who qualifies as a financial intermediary, which due diligence obligations must be complied with, and when a report must be submitted to the Money Laundering Reporting Office Switzerland (MROS).
For payment transactions, Art. 2 para. 3 AMLA is particularly relevant: anyone who provides payment services on a professional basis is deemed to be 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 contracting partner (KYC), establishing the identity of the beneficial owner, duty to document, organisational measures, and the duty to report in the event of suspicion of money laundering. For SME marketplaces, outsourcing to a regulated PSP is the easiest way to fulfil AMLA obligations without becoming a financial intermediary themselves.
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 affiliate with an SRO.
A PSP handles the payment processing for the marketplace and, as a regulated financial intermediary, fulfils the AMLA due diligence obligations.
A platform detects a suspicious transaction and reports it to the MROS (Money Laundering Reporting Office Switzerland) via its PSP.
AMLA FAQ
What is the GwG?
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 is a marketplace considered 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 the compliance of financial intermediaries with AMLA duties on behalf of FINMA. Anyone acting as a financial intermediary must join an SRO.
What is the MROS?
The 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 the MROS.
