Switzerland opens investigations into sanctions violations

On 17 July, the State Secretariat for Economic Affairs (SECO) of Switzerland opened investigations into more than 50 cases of possible sanctions violations and found breaches in 15 of them so far.

Since February 2022, Switzerland has opened a total of 56 cases related to violations of restrictive measures imposed against Russia.

Sanctions breaches are serious offences. The punishment varies from hefty fines to imprisonment. It is important for individuals and companies, irrespective of their size to comply with sanctions regimes and relevant legislation. The sanctions team at Gherson LLP can assist in reviewing your existing compliance policies and systems, including sanctions programmes, or help in developing and implementing new policies to ensure you are fully compliance with sanctions laws and regulations. Our lawyers have experience in conducting training for personnel and can advise on your current and potential sanctions and compliance risks.

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