Financial intermediaries are to contribute to the costs of ensuring that the Money Laundering Reporting Office Switzerland (MROS) can effectively supervise and monitor them. Suspicious activity reports have tripled over the past five years. Requests from abroad and the volume of data to be analyzed have also grown steadily, according to the report presented on Wednesday.

«The SFAO considers it appropriate to involve financial intermediaries in the financing of MROS,» the report continues.

The Federal Department of Justice and Police (FDJP), headed by Federal Councillor Beat Jans, intends to submit a corresponding proposal in the near future, according to the Tages-Anzeiger on Friday. The financing under discussion includes a fee model to be paid by banks and other financial market institutions.

Only Partially Able to Fulfill Its Duties

«MROS is not in a position to cope with the steadily increasing volume of data and reports with its existing staffing levels,» the FDJP’s proposal states. For financial reasons, the reporting office is «only partially» able to fulfill its legal duties.

The Federal Council is expected to decide on the matter soon – possibly as early as today, Friday, the newspaper adds.

Doubling of Suspicious Activity Reports

In 2024, MROS received 15'000 suspicious activity reports, representing a doubling within two years. For the current year, the office expects around 20'000 reports.

The description of the current state of MROS in the SFAO report is also alarming. With the expected further rise in the number of cases, the likelihood increases that the processing deadlines required by the Egmont Group will be met even less frequently in the future.

In the worst case, Switzerland faces a «non-compliance procedure,» which could result in restrictions on international cooperation. «The FATF country review could consequently issue an insufficient rating. This would cause reputational damage to Switzerland’s financial center,» the audit office writes.