Swiss Federal Council freezes assets of 37 Venezuela-linked persons
Swiss asset holders must freeze and report assets of 37 Venezuela-linked persons
FINMA
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Change
On 5 January 2026, the Swiss Federal Council adopted an ordinance requiring persons and institutions in Switzerland to immediately freeze and report assets of 37 Venezuela-linked persons to MROS.
Why it matters
The ordinance creates an immediate freeze-and-report obligation for any person or institution in Switzerland that holds, manages or knows of assets belonging to the listed persons. Financial intermediaries must block access to affected assets and report them to the Money Laundering Reporting Office Switzerland under the FIAA. The obligation took effect at 11:00 on 5 January 2026.
Implications
- — Financial intermediaries in Switzerland must screen holdings and managed assets against the 37 persons listed in the ordinance annex — failure may leave affected assets unfrozen after the obligation took effect.
- — Persons and institutions in Switzerland holding or managing affected assets must immediately freeze those assets and report them to MROS — failure to freeze and report would breach the FIAA-based obligation in the ordinance.
- — Compliance and sanctions teams at Swiss asset holders must update freeze-and-report workflows for the new Venezuela-related ordinance — failure leaves front-office, custody and transaction teams without the required control trigger.
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