In Switzerland, the Money Laundering Act spares financial professionals. Parliamentarians are opposed to revealing the identity of the beneficiaries of companies hidden in tax havens.

Cathores, notaries and other fiduciary bosses, who create offshore companies and trusts on the chain, will not be required to reveal the identity of their clients. The Parliament in Bern has simplified with the stroke of a pen the obligations of financial professionals.
A virtual failure on the whole line for the Federal Council (government) which was trying to bring the AMLA into line with the international standards recommended by the Financial Action Task Force (FATF).

In a statement published on March 19, the NGO Public Eye, had accused the Money Laundering Act (AMLA) of having "shortcomings that a Swiss cheese has holes". The leak of more than eleven million confidential documents from the Panamanian law firm Mossack Fonseca had made it possible to discover behind more than 200,000 offshore companies the names of thousands of "honest" citizens who hid their savings from the tax authorities.