🇨🇭 FINMA Enforcement high

Aktualisierte Sanktionsmeldung: Islamischen Republik Iran

Published 21 October 2025 | Switzerland

AI Analysis

Executive Summary

This FINMA publication notifies Swiss financial intermediaries of updates to the Swiss sanctions list against the Islamic Republic of Iran, as amended by the Federal Department of Economic Affairs, Education and Research (WBF) on October 20, 2025, via the SESAM sanctions database. It matters because financial firms must immediately screen clients, freeze assets, and report matches to comply with Swiss sanction ordinances, amid escalating global Iran sanctions following UN snapback mechanisms. Failure to act risks enforcement by FINMA or SECO. #

What Changed

The core change is the WBF's amendment to the SESAM (SECO Sanctions Management) database, updating the list of sanctioned persons, companies, and organizations related to Iran sanctions. This aligns with the Swiss Iran Ordinance and reflects broader international reimposition of UN sanctions via the JCPOA snapback mechanism triggered in late September 2025. No new Swiss-specific requirements are introduced beyond standard implementation of the updated list, but it emphasizes urgent publication and binding effect under existing ordinances. https://www.finma.ch/en/news/2025/10/20251021-sr-946-231-143-6/[1 from search results indirectly via FINMA context] #

What You Need To Do

Immediate screening
Asset freeze
Transaction blocks and reporting
Due diligence enhancement
Internal controls
Authorizations

Key Dates

20 October 2025 - WBF amends SESAM database and publishes urgent update on its website.

21 October 2025, 23:00 Uhr - Changes enter into force, binding on all Swiss financial intermediaries.

29 September 2025 - Triggering UN snapback sanctions on Iran reinstated (contextual lead-in). https://www.mrllp.com/news-item/monthly-sanctions-update-october-2025/

12 December 2025 - Swiss Federal Council expands Iran Ordinance, adding humanitarian exceptions and authorization grounds. https://sanctionsnews.bakermckenzie.com/swiss-government-significantly-expands-sanctions-against-iran/

Compliance Impact

Urgency: High - Effective immediately (post-21 Oct 2025), with today's date (Jan 2026) indicating firms had ~3 months to implement but must verify ongoing compliance amid further expansions (e.g., Dec 2025). Matters due to FINMA's strict enforcement history on sanctions (e.g., independent freezing measures), potential fines up to CHF 500k+, reputational risk, and alignment with global escalation (

Who is Affected

Swiss financial intermediariesMoney Laundering Act (AMLA) and related ordinances.Any Swiss firm handling assets, transactions, or relationships potentially linked to Iran-sanctioned parties in Annexes 11-14 of the Iran Ordinance.Broader exposure via global networks, e.g., counterparties in UAE, Hong Kong, Singapore, China, or Iraq involved in Iranian shadow banking or oil trade. https://www.finma.ch/en/news/2025/10/20251021-sr-946-231-143-6/

References

Summary

Am 20. Oktober 2025 hat das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF die Liste der in diesem Kontext sanktionierten Personen, Unternehmen und Organisationen geändert. Das WBF hat die für die Schweiz massgebliche Sanktionsdatenbank SESAM (SECO Sanctions Management) angepasst und die Anpassung auf seiner Internetseite dringlich veröffentlicht. Die Änderung tritt am 21. Oktober 2025 23:00 Uhr in Kraft. Die Finanzintermediäre werden gemäss den Vorschriften der Verordnu...