Suspicious activity report under art. 7 of the Federal Act on the Freezing and the Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA)

Art. 7 Duty to report and to provide information

1 Persons or institutions who hold or manage in Switzerland assets of persons affected by an asset freeze within the meaning of Article 3 must immediately report these assets to the Money Laundering Reporting Office Switzerland (MROS).

2 Persons or institutions that neither hold nor manage such assets in Switzerland, but who have knowledge thereof by virtue of the functions they perform, must report the assets immediately to MROS.

3 Based on reports received pursuant to paragraph 2, MROS may request information from any person or institution that may hold or manage assets covered by a freeze ordered under the provisions of the present Act.

4 Persons or institutions subject to the terms of paragraphs 1 to 3 have the further duty to produce, at the request of MROS, all information and documents relating to the reported assets as may be required for the enforcement of the present Act, to the extent that they possess any such information.

5 Lawyers and notaries are not subject to the duty to report and inform where they are constrained by the duty of professional confidentiality within the meaning of Article 321 of the Swiss Criminal Code.1

6 MROS shall transmit the information received pursuant to the provisions of paragraphs 1 to 3 to the FDFA and the Federal Office of Justice (FOJ). The Federal Council shall determine the procedures for cooperation in the framework of this Act between the FDFA, the FOJ and the MROS.



Last modification 18.12.2017

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