The National accepted last Monday, by 123 votes to 67, a watered-down draft revision of the law on money laundering. Therefore, lawyers and other advisers will not be subject to this regulation

Lawyers and advisers permanently excluded from the money laundering bill. On Monday, the theme was at the heart of the debates of deputies who refused to take up the subject during an initial examination because of provisions aimed at submitting councillors to the law.
Lawyers and advisers can now explain how to launder money, without being sued if they do not participate in the transaction. They are also under no obligation to report money launderers, if they are aware of them.
According to Philipp Matthias Bregy (PDC/VS), the project allows seven of the eight FATF recommendations to be fulfilled. Calling for a gap in the legislation to be filled, Florence Brenzikofer (Greens/BL) acknowledges that this is a useful regulation.
The bill provides for a variety of measures, including that financial intermediaries will have to verify the identity of the client, document the service and clarify its background and purpose. They should also check this information periodically.