AMLA (Anti-Money Laundering Act)
The AMLA (Federal Act on Combating Money Laundering and Terrorist Financing) 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 the financing of terrorism. It defines who qualifies as a financial intermediary, which due diligence obligations must be complied with, and when a report to the Money Laundering Reporting Office Switzerland (MROS) must be made.
For payment transactions, Art. 2 para. 3 AMLA is particularly relevant: Anyone who provides payment services on a commercial 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 party (KYC), determination of the beneficial owner, documentation obligations, organisational measures, and the obligation to report in case 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 pursuant to 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, fulfills the AMLA due diligence obligations.
A platform detects a suspicious transaction and reports it via its PSP to the MROS (Money Laundering Reporting Office Switzerland).
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 commercial payment services — 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 acting as 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.
