MROS
Money Laundering Reporting Office Switzerland
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The Swiss Money Laundering Reporting Office within the Federal Office of Police (fedpol); it receives suspicious activity reports from financial intermediaries.
Financial intermediaries report a well-founded suspicion under Art. 9 of the Anti-Money Laundering Act or under the right to report in Art. 305ter para. 2 of the Swiss Criminal Code. Reports are submitted electronically via goAML.
In practice
Reports to MROS are submitted electronically via goAML. A distinction is made between the duty to report when there is a well-founded suspicion and the right to report when indications are less specific. After a report, special rules apply to the handling of the business relationship, and the client must not be informed. For family offices acting as financial intermediaries, internal procedures, responsibilities and the documentation of every report are part of the basic set-up.
Distinctions and common mistakes
MROS is an administrative authority, not a prosecution authority; it analyses reports and forwards them to the prosecution authorities where the suspicion is substantiated. Typical mistakes are informing the client about the report (prohibition under Art. 10a AMLA) or terminating the relationship in a way that lets assets leave without a paper trail (Art. 9b AMLA).
Relevant in: Switzerland
Related terms
- Suspicious activity report
- A report by an obliged entity to the national financial intelligence unit when there are indications of money laundering or terrorist financing.
- goAML
- Software developed by the United Nations through which obliged entities submit suspicious activity reports electronically to the financial intelligence units.
Mentioned in these guides
- Enhanced due diligence in practiceWhen enhanced due diligence applies and what to do in practice: PEPs, high-risk countries, complex structures, senior management approval, source of wealth.
- Suspicious activity reports to MROSWhen Swiss financial intermediaries must or may report to MROS, how reports are filed through goAML, and what follows: tipping-off ban, freezing, termination.