Switzerland to Launch Beneficial Ownership Register on October 1 Despite Cybersecurity Concerns

Switzerland will proceed with the launch of its new federal beneficial ownership transparency register on 1 October 2026, despite renewed calls from parts of the wealth-management industry to reconsider the timetable following a cyberattack on Liechtenstein’s beneficial ownership register.

The Swiss Federal Council had already confirmed in June that the revised Anti-Money Laundering Act and the new Act on the Transparency of Legal Persons and the Identification of Beneficial Owners would enter into force on 1 October. The legislation creates a central federal register of the beneficial owners of legal entities and extends due-diligence requirements to certain higher-risk advisory activities.

Reuters reported on 31 August that the Swiss government intends to keep the October start date. The statement followed concerns raised after hackers accessed and copied data from Liechtenstein’s register during the night of 29–30 July, affecting information connected to about 31,000 companies, foundations and trusts. The Swiss Association of Wealth Managers subsequently urged the Justice Ministry to reconsider the implementation approach and strengthen access controls.

According to the government response reported by Reuters, Switzerland has planned measures intended to provide the highest possible level of protection for the new register. The register is designed to strengthen the prevention and investigation of money laundering and terrorist financing by improving access to information on who ultimately owns or controls Swiss legal entities.

The 1 October commencement also starts transition periods for affected entities to report their beneficial owners. A pilot of the register has been running through Switzerland’s EasyGov platform and is scheduled to continue until 30 September, immediately before the formal launch.

For AML and corporate-compliance teams, the implementation means beneficial ownership information will become part of a more centralised federal transparency framework. The immediate operational issue is now less whether the register will launch and more how organisations prepare their ownership data and manage the accompanying data-security and access-control risks.