Switzerland Weighs New Money-Laundering Rules Amid US Criticism
- US State Department officials urges tighter rules on lawyers
- Proposed bill to force more disclosure from companies, lawyers
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Switzerland proposed new rules to toughen anti-money laundering laws as US officials ramp up their critique of what they say is weak sanctions enforcement.
A plan announced Wednesday includes a federal register where companies and other legal entities would have to add the names of their beneficial owners, making it harder for criminals and others to hide assets from police and tax authorities. The register, however, won’t be public.