Switzerland MLRO Annual Report 2024

Switzerland Sees Surge in Money Laundering Annual Report in 2024: MROS Annual Trends

Record-High SARs and Increased Enforcement Activity

In 2024, Switzerland’s Money Laundering Reporting Office (MLROS) received 15,141 Suspicious Activity Reports (SARs)—an average of 59 per working day. This marks a 27.5% increase from 2023 (11,876 SARs) and nearly triples the reporting volume since the goAML system was introduced in 2020.

Key Drivers of the Increase

•   1.Stricter Regulations: New legal requirements have expanded reporting obligations.
•   2. Improved Detection Tools: AI and transaction monitoring systems flag more suspicious activity.
•   3. Heightened Awareness: Financial institutions are more proactive in identifying risks.

Banking Sector Dominates SAR Submissions

•   a. 92.3% of SARs came from banks, consistent with the 2015–2024 average (90.1%).
•   b. Emerging Sectors: Virtual Asset Service Providers (VASPs) and FinTech firms submitted 227 SARs (1.5% of total), now tracked as a separate category.

Increased Law Enforcement Referrals

MROS forwarded 20.4% more cases to prosecutors in 2024 than in 2023. Key trends:

•   1. 1.9 SARs per case (rising steadily).
•   2. 18.9% of cases included additional intelligence from Art. 11a AMLA requests (1,016 sent in 2024).

Cross-Border & Domestic Intelligence Sharing

International Cooperation

•   a. 780 requests from 96 foreign FIUs.
•   b. 751 spontaneous reports from 45 countries.

Domestic Exchanges

•   a. 79% increase in spontaneous disclosures from MROS to Swiss authorities.
•   b. However, requests from Swiss agencies to MROS fell (-35.8% for inquiries, -10.9% for reports).

Suspicious Business Relationships Skyrocket

Since 2015, reports of dubious client relationships surged twelvefold:
2015: 2,367 reports
2024: ~27,300 reports

This growth reflects better risk assessment tools and regulatory pressure to scrutinize high-risk clients.

Conclusion: A More Aggressive AML Landscape

Switzerland’s rising SAR volumes signal:
  1. Stronger compliance by financial institutions.
  2. Tighter regulatory scrutiny on money laundering risks.

Growing international collaboration in financial crime prevention.
As criminals evolve tactics, MROS and Swiss banks are responding with faster detection, stricter reporting, and deeper investigations.

Read the full report here.

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