SWITZERLAND Law and Practice Contributed by: Bruno Ledrappier and Camille Vuillemin-Loup, Charles Russell Speechlys Switzerland
grounds to suspect a criminal offence. Swiss law pro - vides that some offences require the filing of a criminal complaint, but this is rarely the case for financial crime offences. 2.3 Investigatory Powers Prosecution authorities may issue compulsory pro - duction orders for documents and information, as well as searches of premises, persons and records (including electronic data). Suspects have the right to counsel at all stages. In urgent cases, the police may conduct searches without a prior order, subject to subsequent validation. Prosecution authorities may also order seizure of assets likely subject to confiscation, including bank accounts, real estate and digital/crypto-assets. FINMA may also freeze assets in enforcement proceedings. In international cases, assets abroad may be traced and frozen through mutual legal assistance under IMAC. 2.4 Use of Technology and Data Swiss authorities increasingly use data analytics and blockchain analysis in financial crime investigations. Specialised units within prosecution authorities and the federal police handle complex digital evidence. Surveillance measures, including telecommunications monitoring, are governed by the Federal Act on the Surveillance of Postal and Telecommunications Traf - fic, SPTA, and require judicial authorisation. The use of AI tools is not specifically regulated but must com - ply with proportionality and data protection principles under the Federal Act on Data Protection, FADP. 2.5 Internal Investigations and Co-Operation Internal investigations play a significant role in Swiss financial crime enforcement. Supervised entities must investigate compliance breaches and report findings to FINMA. Companies frequently engage external counsel, particularly where criminal liability is at stake. Attorney-client privilege protects communications in the context of internal investigations, provided the work falls within typical lawyer activities (not com - pliance or business management tasks). The Swiss Federal Court has confirmed that internal investigation reports prepared in connection with ongoing or antici - pated litigation are protected. However, privilege does not extend to third parties to whom documents are
voluntarily disclosed, including FINMA. Voluntary co- operation is generally a mitigating factor in sentenc - ing, but supervised entities face a tension between the duty to co-operate with FINMA and the risk that disclosed information may be shared with prosecution authorities. 2.6 Right to Not Co-Operate or Self- Incriminate Investigations may involve arrests where there is a risk of flight, collusion or repetition. Suspects have the right to defence counsel at all times. The suspect has a fundamental right to remain silent (nemo tenetur principle). No adverse inferences may be drawn from the exercise of this right, although in practice, this may have a psychological effect on the prosecution authorities. In the regulatory context, supervised entities are sub - ject to a broad duty to co-operate with FINMA. How - ever, the Swiss Federal Court decision 7B_45/2022 of 21 July 2025 clarified that the nemo tenetur princi - ple prevails over this duty whenever there is a risk of criminal prosecution. Evidence collected by FINMA without informing the person of their right not to be self-incriminated is inadmissible in criminal proceed - ings. Providing false information to FINMA is a criminal offence. 2.7 Pre-Charge Powers Under Article 263 of the Swiss Code of Criminal Pro - cedure (CrimPC) prosecution authorities may order seizure of assets likely subject to confiscation, needed for procedural costs or intended to satisfy damage claims. The threshold is sufficient grounds to suspect the assets are connected to an offence. Seizure may be ordered without prior judicial authori - sation, though it may be challenged before the com - pulsory measures court. The CrimPC and SCC con - fiscation provisions (Articles 69-72 SCC) govern these powers. In international matters, assets may be frozen through mutual legal assistance under IMAC. These powers extend to third parties, including nomi - nees and beneficial owners, where there are grounds to believe their assets are connected to the offence.
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