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Anti-Money Laundering Act (Switzerland)
The Anti-Money Laundering Act (AMLA) (German language, German: ''Bundesgesetz über die Bekämpfung der Geldwäscherei und der Terrorismusfinanzierung, GwG'', French language, French: ''Loi fédérale du 10 octobre 1997 concernant la lutte contre le blanchiment d’argent dans le secteur financier, LBA'', Italian language, Italian: ''Legge federale relativa alla lotta contro il riciclaggio di denaro e il finanziamento del terrorismo, LRD''), also referred to as the Federal Act on Combating Money Laundering and Terrorist Financing, is a Federal act (Switzerland), Swiss federal act designed to combat money laundering by requiring Financial intermediary, financial intermediaries to be vigilant about the origin of funds. Purpose The Anti-Money Laundering Act is designed to prevent members of mafia or List of designated terrorist groups, terrorist organizations from gaining access to financial institutions. Under this law, financial institutions (banks, Asset management, asset manage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Assembly Of Switzerland
Federal or foederal (archaic) may refer to: Politics General *Federal monarchy, a federation of monarchies *Federation, or ''Federal state'' (federal system), a type of government characterized by both a central (federal) government and states or regional governments that are partially self-governing; a union of states * Federal republic, a federation which is a republic *Federalism, a political philosophy * Federalist, a political belief or member of a political grouping * Federalization, implementation of federalism Particular governments *Government of Argentina * Government of Australia * Federal government of Brazil *Government of Canada * Cabinet of Germany * Federal government of Iraq *Government of India * Federal government of Mexico * Federal government of Nigeria *Government of Pakistan * Government of the Philippines *Government of Russia * Government of South Africa *Federal government of the United States **United States federal law **United States federal courts *Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shell Corporation
A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. It may hold passive investments or be the registered owner of assets, such as intellectual property, or ships. Shell companies may be registered to the address of a company that provides a service setting up shell companies, and which may act as the agent for receipt of legal correspondence (such as an accountant or lawyer). The company may serve as a vehicle for business transactions without itself having any significant assets or operations. Shell companies are used for legitimate purposes but can be used for tax evasion, tax avoidance, money laundering, to dodge current or future lawsuits or to achi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Switzerland
Swiss law is a set of rules which constitutes the law in Switzerland. Structure and Sources There is a hierarchy of political levels which reflects the legal and constitutional character of Switzerland. The Federal law (, , ) consist of the following parts: * International law, * Internal law, According to the current Federal Constitution (SR 101 Art. 1, 3) and the principle of subsidiarity (Switzerland) (SR 101 Art. 5a) and the ''Title 3 Confederation, Cantons and Communes'' (SR 101), the Cantons of Switzerland "''are sovereign except to the extent that their sovereignty is limited by the Federal Constitution. They exercise all rights that are not vested in the Confederation''" and "''the principle of subsidiarity must be observed in the allocation and performance of state tasks''". The Internal law (, , , ) consists of the following parts: #State - People - Authorities (SR 1) #Private law - Administration of civil justice - Enforcement (SR 2) #Criminal law - Administra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lex Koller
The Federal Act on Acquisition of Real Estate by Persons Abroad was adopted on December 16, 1983, by the Federal Assembly and came into force on January 1, 1985. This Swiss federal law, also known as the Lex Koller, limits the acquisition of real estate by persons abroad. It succeeded the Lex Friedrich and was extensively amended in 1997 to take the name of Federal Councillor Arnold Koller, then head of the Federal Department of Justice and Police. The 1961 Federal Decree that this law replaced is the source of the famous Schubert jurisprudence. The objective being to "''prevent foreign influence on Swiss soil''", any acquisition of real estate by a person domiciled abroad is subject to an administrative authorization, the conditions for which are exhaustively listed in the law and its implementing provisions. Without such authorization, the legal act is null and void and the transfer cannot be entered in the land register. It is the authority designated by the canton that d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corruption
Corruption is a form of dishonesty or a criminal offense that is undertaken by a person or an organization that is entrusted in a position of authority to acquire illicit benefits or abuse power for one's gain. Corruption may involve activities like bribery, influence peddling, and embezzlement, as well as practices that are legal in many countries, such as lobbying. Political corruption occurs when an office-holder or other governmental employee acts in an official capacity for personal gain. Historically, "corruption" had a broader meaning concerned with an activity's impact on morals and societal well-being: for example, the ancient Greek philosopher Socrates was condemned to death in part for "corrupting the young". Contemporary corruption is perceived as most common in kleptocracies, oligarchies, narco-states, Authoritarianism, authoritarian states, and mafia states, however, more recent research and policy statements acknowledge that it also exists in wealthy capitalist e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Most countries implement some anti-money-laundering measures. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss Financial Market Supervisory Authority
The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland. FINMA's name and acronym are usually expressed in English so as to avoid the semblance of favouring any one of Switzerland's linguistic regions. FINMA was established in 2007 and succeeded the Federal Banking Commission, thus EBK-CFB, established in 1934. It is an independent institution with its own legal personality based in Bern. It is institutionally, functionally and financially independent from the central federal administration and the Federal Department of Finance and reports directly to the Swiss parliament. History Federal Banking Commission Banking supervision was introduced in Switzerland by the Federal Act on Banks and Savings Banks of 1934, following unsuccessful attempts that had ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Switzerland
Banking in Switzerland dates to the early 18th century through Switzerland's merchant trade and over the centuries has grown into a complex and regulated international industry. Banking is seen as very Culture of Switzerland, emblematic of Switzerland and the country has been one of the largest, if not largest, Offshore financial centre, offshore financial centers and tax havens in the world since the mid-20th century, with a long history of banking secrecy, security and client confidentiality reaching back to the early 1700s. Starting as a way to protect wealthy European banking interests, Swiss banking secrecy was codified in 1934 with the passage of a landmark federal law, the Federal Act on Banks and Savings Banks. These laws were used to protect assets of persons being persecuted by Nazi authorities but have also been used by people and institutions seeking to Tax evasion, illegally evade taxes, hide assets, or to commit other financial crime. Controversial protection of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crime In Switzerland
Crime in Switzerland is combated mainly by cantonal police. The Federal Office of Police investigates organised crime, money laundering and terrorism. Crime statistics In Switzerland, police registered a total of 432,000 offenses under the Criminal Code in 2019 (−0.2% compared with previous year), of which 110,140 or 25.5 percent were cases of thefts (excluding vehicles, −2.0%), and 41,944 or 9.7 percent were thefts of vehicles (including bicycles, −10.1%), 46 were killings and 161 were attempted murders. The number of cases of rape reported increased by 53 incidents or 8.5 percent over the previous year. The number of criminal pornography offenses increased by 56.1 percent to 2,837. Offenses against the Narcotics Act decreased by 0.7 percent to 75,757. In 2014, 110,124 adults were convicted, of which 55,240 (50%) were convicted according to traffic regulation offences, 6,540 (+1.6%) for trafficking in narcotic substances, and 17,882 (−7.2%) for offenses against the F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
