Switzerland agrees to enhance due diligence requirements to prevent banks and other financial intermediaries accept of untaxed assets
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Switzerland agrees to enhance due diligence requirements to prevent banks and other financial intermediaries accept of untaxed assets

On 29 November 2013 the Swiss Federal Council has instructed the Swiss Federal Department of Finance to submit a proposal on the next steps for enhanced due diligence requirements to prevent banks and other financial intermediaries the acceptance of untaxed assets in the Confederation.

Enhanced due diligence requirements should apply additionally, as supplement the existing anti - money laundering ones, for those states with which no agreement on automatic exchange of information exists.

 

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