Switzerland

FINMA Guidance 02/2026 on Managing Digital Fraud Risks for Banks

FINMA published Guidance 02/2026 addressing digital fraud risks following a survey of 19 Swiss banks. The guidance identifies gaps in operational risk management and anti-money laundering controls related to digital banking fraud, which has increased since 2022. Banks and persons under Article 1b of Switzerland's Banking Act are expected to implement appropriate risk management frameworks covering client onboarding, account security, and fraud proceeds laundering.

Updated Ukraine Sanctions Notice - Swiss WBF Changes

FINMA Switzerland issued an updated sanctions notice regarding Ukraine following changes by the Swiss Federal Department of Economic Affairs, Education and Research (WBF) to the ordinance on measures relating to the Ukraine situation (SR 946.231.176.72). On March 31, 2026, WBF amended Appendix 8 of the ordinance, with changes taking effect April 1, 2026 at 23:00. Financial intermediaries must implement sanctions prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO.

Crysvita Severe Hypercalcemia Risk Communication

Swissmedic, in coordination with Kyowa Kirin, issued a Direct Healthcare Professional Communication (DHPC) warning of severe hypercalcemia risk associated with Crysvita (Burosumab). Cases of elevated serum calcium, including life-threatening hypercalcemia, have been reported, particularly in patients with tertiary hyperparathyroidism. The communication establishes contraindications for patients with moderate to severe hypercalcemia (>3.0 mmol/L) and provides updated monitoring protocols.

Swiss Sanctions Updates for Ukraine Annex 8 Amendments

SECO amended annex 8 to the Ordinance on Measures Relating to the Ukraine Situation, adding 9 individuals and modifying entries for 132 individuals and 77 organizations. The amendments took effect at 11 pm on April 1, 2026, updating Swiss sanctions in coordination with international measures.

Updated Sanctions Notice: ISIL (Da'esh) / Al-Qaeda

SECO (Swiss State Secretariat for Economic Affairs) updated the ISIL (Da'esh) / Al-Qaeda sanctions list on March 30, 2026. The UN Security Council Sanctions Committee amended the consolidated list, and the changes are directly applicable in Switzerland. FINMA notified financial intermediaries of their obligations to implement asset freezes and report affected relationships to SECO.

PostFinance Must Serve Russian Client on US/UK Sanctions List

The Swiss Federal Supreme Court upheld that PostFinance must maintain a limited banking relationship with a Russian client on US/UK sanctions lists. The court found that Swiss financial institutions cannot deny basic payment services solely based on foreign sanctions without demonstrating direct regulatory conflict or disproportionate compliance burden.

Swiss Sanctions Against ISIL Al-Qaida Updated

The Swiss State Secretariat for Economic Affairs (SECO) announced updates to Switzerland's sanctions ordinance against ISIL (Da'esh) and Al-Qaida on March 27, 2026. The UN Security Council Sanctions Committee amended its consolidated list of sanctioned individuals, companies, and organizations, triggering automatic implementation in Switzerland under the 2016 Federal Council ordinance. The SESAM database has been updated to reflect the new designations.

Switzerland Updates Sanctions List for ISIL and Al-Qaida

Switzerland's SECO announced updates to sanctions designations for ISIL (Da'esh) and Al-Qaida following UN Security Council amendments. The SESAM database has been updated to reflect the new designations. Swiss entities must immediately comply with asset freeze and other measures under the automatic application ordinance.

Vegan Product Labeling: 'Milk' Not Permitted

The Swiss Federal Supreme Court ruled that the term 'milk' cannot be used to label vegan products, even with modifications or negative phrasing. The court rejected an appeal from a manufacturer of a vegan oat drink, upholding a previous ban on its labeling.

Switzerland Updates Sanctions List for ISIL / Al-Kaida

Switzerland's State Secretariat for Economic Affairs (SECO) has updated its sanctions list in accordance with UN sanctions against ISIL (Da'esh) and Al-Qaeda. Financial intermediaries must implement the updated prohibitions, freeze assets, and report affected relationships to SECO.