WBF updates Swiss sanctions list for Hamas and PIJ supporters
Swiss financial intermediaries must freeze listed assets and report affected relationships to SECO
FINMA
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Change
On 18 February 2026, Switzerland’s WBF amended the sanctions annex for persons and organisations supporting Hamas or Palestinian Islamic Jihad and updated the SESAM sanctions database.
Why it matters
Financial intermediaries must implement the amended prohibitions, freeze assets of sanctioned persons and report affected business relationships to SECO. Reporting to SECO does not close the AML workflow: intermediaries must still conduct additional enquiries under Art. 6 GwG and file with MROS under Art. 9 GwG if doubts remain. The amendment entered into force at 23:00 on 18 February 2026.
Implications
- — Swiss financial intermediaries must screen customers and business relationships against the updated SESAM sanctions entries — failure may leave newly listed persons or organisations outside freeze controls.
- — Swiss financial intermediaries holding assets of sanctioned persons must freeze those assets and report affected business relationships to SECO — failure would leave the amended sanctions prohibitions unimplemented.
- — AML and sanctions compliance teams must continue Art. 6 GwG enquiries after reporting to SECO and file with MROS under Art. 9 GwG if doubts remain — failure may leave suspicious-activity obligations unresolved.
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