Switzerland updates Iran sanctions annexes
Swiss financial intermediaries must freeze assets and report affected Iran-sanctions relationships to SECO
FINMA
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Change
Switzerland updated its SESAM sanctions database for Iran-related sanctioned persons, companies and organisations, with the amendment entering into force on March 10, 2026 at 23:00.
Why it matters
The SESAM update brings amended Iran-sanctions entries into Switzerland's asset-freeze and prohibition framework. Swiss financial intermediaries must update screening controls, freeze assets of sanctioned persons and report affected business relationships to SECO, while still completing AML enquiries and MROS reporting where suspicion remains.
Implications
- — Swiss financial intermediaries must update sanctions-screening controls against the amended SESAM Iran-sanctions entries from March 10, 2026 at 23:00.
- — Swiss financial intermediaries holding assets of sanctioned persons must freeze those assets and report affected business relationships to SECO under the Ordinance.
- — AML compliance teams at Swiss financial intermediaries must continue Article 6 AMLA enquiries and file with MROS under Article 9 AMLA if suspicion cannot be cleared, because SECO reporting does not replace AML reporting duties.
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