The Financial Intelligence Unit collects and investigates reports of suspicious financial transactions. The English name of the central office and the corresponding abbreviation are often used: Financial Intelligence Unit (FIU). Its aim is to prevent, detect and prosecute money laundering and terrorist financing.

As an obliged entity, you must report suspicious money movements to the FIU under certain conditions. If you have submitted such suspicious activity reports, you will receive the following from the FIU will provide you with feedback on the relevance of your suspicious activity report within a reasonable period of time.

If you gain knowledge of personal data through this feedback, this data may only be used to improve

• your own reporting behavior
• your own risk management:
  • Risk analysis and, based on this, security measures against money laundering and terrorist financing
• the fulfillment of one's own due diligence obligations, among other things:
  • Identifying the contractual partner and, if applicable, the person acting on their behalf
  • Checking whether the person acting on behalf of the contractual partner is authorized to do so
  • Determining and identifying the beneficial owner:
    • the person in whose ownership or under whose control the contracting party is, or
    • the person at whose instigation a transaction is carried out or a business relationship is established
  • Obtaining and assessing information on the purpose and intended nature of the business relationship; determining whether the contracting partner or the beneficial owner is a politically exposed person
    • Persons who hold or have held a high-ranking public office in Switzerland or abroad in the past 12 months
  • Continuous monitoring of the business relationship

You must delete this personal data

• as soon as it is no longer required for the stated purposes or
• after one year at the latest