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Threshold for identifying cash transactions

01/02/2021
Source : ORISHAS FINANCE
Categories: General Information

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New measure opposes National and Finma
Finma recently decided to increase the threshold for cash transactions to CHF 15,000. This measure already opposes the banking players.
25,000 the  threshold for identifying cash transactions must increase to 15,000 francs. This was decided by the authority, in accordance with the standards established by the Financial Action Task Force (FATF). A measure rejected by National which adopted a motion of refusal. The said motion was rejected by the committee  because the circles concerned support this lowering.
According to Parliament's services, the lowering of the threshold for identifying cash transactions concerns a very small circle of transactions. The measure involves national transfers at the post office between CHF 15,000 and CHF 25,000, or 0.012% of payment transactions in Switzerland.

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