The Financial Service Standards Association (VQF)
The Association for the Quality Assurance of Financial Services (VQF) acts as a comprehensive support hub for financial intermediaries in Switzerland's parabanking sector, delivering a wide range of compliance services.
Operating as a competence centre, it provides members with a spectrum of services, including supervision, auditing, testing, training, and consulting. In addition to functioning as a self-regulatory organisation (SRO) with supervisory duties, the VQF offers specialised legal consulting services to financial intermediaries and traders, in accordance with the Anti-Money Laundering Act (AMLA).
The Zug-based VQF performs various functions, including:
Conducting AML/CFT supervision and monitoring to ensure that member firms comply with regulatory requirements.
Providing guidance and support to member firms on AML/CFT compliance matters.
Facilitating communication and cooperation between its members and regulatory authorities.
Conducting training and education programs to enhance awareness and understanding of AML/CFT regulations within the financial industry.
As an SRO, the VQF plays a vital role in overseeing its members' efforts to combat money laundering and terrorist financing, an authority officially recognised by the Swiss Financial Market Supervisory Authority (FINMA).
Did you know that alongside some of Switzerland’s biggest VASPs, 21 Analytics is now part of VQF’s network to empower the thriving cryptocurrency ecosystem that focuses on preventing financial crimes?