Legal Compass: Anti-money laundering law reform in the United States: Swiss banks caught between a rock and a hard place

beautiful view of Manhattan skyline at sunsetbeautiful view of Manhattan skyline at sunset

Legal Compass: Anti-money laundering law reform in the United States: Swiss banks caught between a rock and a hard place

September 14, 2021

Switzerland
Switzerland
Switzerland

Bad news for Swiss banks: under the new 2020 U.S. Anti-Money Laundering Act, US criminal investigative authorities can (directly!) demand Swiss banks to disclose a wide range of client documents. Swiss banking secrecy is no valid defence. Neither is the argument that disclosure would be a crime under Swiss law. Swiss banks should prepare upfront as deadlines for disclosure can be short.

Read more

The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer.

Key contacts

patrick.eberhardt@eversheds-sutherland.ch

Patrick Eberhardt

Partner

Geneva, Switzerland

tigran.serobyan@eversheds-sutherland.ch

Tigran Serobyan

Partner

Geneva, Switzerland

Latest Insights

Latest News

Latest Events

glass facade building reflection blue sky modern corporate architecture

legal updates

June 03, 2026

Commercially Connected shorts - 3 June 2026

Electricity transmission pylons across rural landscape energy infrastructure power lines

legal updates

June 03, 2026

UK Government confirms refinements to CfD allocation round 8

Generic building in front of sun (1)

legal updates

June 03, 2026

Global Life Sciences & Healthcare Bulletin

Looking up skyscrapers night city architecture

legal updates

June 03, 2026

UK Government announces mandatory foreign permanent establishment exemption

© Eversheds Sutherland 2026. All rights reserved. Eversheds Sutherland is a provider of legal and other services operating through various separate and distinct legal entities. For further information about these entities and Eversheds Sutherlands' structure please see the Legal Notice page of this website.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. For further information about these Eversheds Sutherland Entities and Eversheds Sutherlands’ structure please see the Legal Notices page of this website. For information on Konexo please also see the Legal Notices page of this website