For financial intermediaries, criminal risk is no longer a theoretical abstraction. In recent years, several landmark cases have shown how operational failings, sometimes limited in scope, can lead to significant criminal convictions. In 2025, the Office of the Attorney General of Switzerland thus sanctioned several institutions for failing to put in place sufficient organisational measures to prevent money laundering linked to cases of international corruption. At cantonal level, banks have also been convicted of a lack of due diligence following proceedings initiated on the basis of reports to MROS, resulting in substantial fines and confiscations.
These cases illustrate a now well-established reality: the fight against money laundering has become a central criminal issue in the activities of financial intermediaries. Whilst the criminal provisions on money laundering are better understood today, their practical application continues to generate criminal risks that are often underestimated, both for employees and for the institution itself.
As in other areas of economic criminal law, the anti-money laundering framework is characterised by a close intertwining of individual responsibilities and organisational liability. Client relationship managers, compliance department staff, as well as senior managers and governing bodies, may find themselves exposed to personal criminal liability due to acts or omissions occurring in the day-to-day application of due diligence rules. This individual risk is not, however, isolated: it may, in certain circumstances, lead to the company’s criminal liability, particularly where organisational failings are identified.
Beyond the substantive aspects, the series will also pay particular attention to the procedural measures available to companies and their employees.
It is against this backdrop that this series of five articles is set. Following a general introduction, the forthcoming articles will successively address money laundering within the meaning of Art. 305bis of the Swiss Criminal Code (SCC), the Corporate criminal liability based on Art. 102 SCC, Insufficient diligence in financial transactions and right to report under Art. 305ter of the Swiss Criminal Code, and the Violation of the duty to report under Article 37 of the Anti-Money Laundering Act (AMLA), before concluding with an analysis of selected procedural aspects, in particular searches and the sealing of evidence.
The aim of this series is threefold. Firstly, it seeks to illustrate in concrete terms how the aforementioned criminal risks may materialise in practice. Secondly, we intend to outline the mechanisms by which an employee’s individual criminal liability may, in certain circumstances, become the company’s criminal liability, particularly where the underlying offence reveals a failure in organisation or internal control. Finally, each article will aim to draw some lessons from recent case law, which illustrates both the practice of the courts and prosecuting authorities and the limits of criminal liability.
Recent developments show that the proliferation of standards and stakeholders involved proportionally increases the risks of criminal liability. However, this trend does not mean that criminal liability is inevitable. An adequate anti-money laundering framework, a thorough understanding of the obligations under the AMLA, and constant vigilance in their application are key factors in avoiding both individual liability for employees and that of the company.
Beyond the substantive aspects, the series will also pay particular attention to the procedural measures available to companies and their employees. Mastering these measures, particularly in the event of a search and seizure of evidence, makes it possible to restrict access to sensitive information and ensure effective protection for the company and its staff.
Through this series, we aim to provide practitioners with a pragmatic framework for understanding the main pitfalls associated with the implementation of AMLA obligations, highlighting the interplay between individual liability, corporate liability and procedural safeguards.
Théo Goetschin
Counsel & Head of the White-Collar Crime group, Geneva
