UNICORN PRIVATE Sanctions fines in Switzerland: cases and penalties
Cases involving companies based in Switzerland. No case decided by a Swiss authority is listed.
In short
Published cases on this page: 4. Authorities: 2. Years: 2022 to 2025.
In the United States (OFAC, BIS) and in the United Kingdom (OFSI, since 15 June 2022) civil liability is strict: a company can be fined even if it did not know that the counterparty was sanctioned.
Amounts are shown in the currency of the decision and are never converted.
Good to know
- SECO publishes its enforcement notices without names, so no Swiss decision with a company name could be listed.
- The cases listed were decided by the US Treasury (OFAC) or by a German court (OLG Stuttgart).
Cases
Cases shown: 4 of 4
| Sector | What happened | |||||
|---|---|---|---|---|---|---|
| ShapeShift AGCivil enforcement action (penalty or settlement) | Switzerland | Crypto and payments | OFAC (US Treasury) | $750,000 | The exchange carried out crypto trades with users in Cuba, Iran, Sudan and Syria. Official source verified on November 13, 2026 | |
| Swiss holding company not named, and its managerCriminal court judgmentNot final at the time of the bulletin of the German Federal Ministry for Economic Affairs (BMWK) of 14 March 2025. | Germany / Switzerland | Machinery and industrial equipment | OLG Stuttgart | about €3,000,000 (confiscation (holding company)) €2,100,000 (manager, not named, 7 years in prison) |
The manager shipped six dual-use machine tools to a Russian sniper-rifle maker through companies in Switzerland and Lithuania. Official source verified on November 13, 2026 | |
| EFG International AGCivil enforcement action (penalty or settlement) | Switzerland | Banks and financial intermediaries | OFAC (US Treasury) | $3,740,442 | The bank had US firms process securities trades for clients under Cuba, narcotics and Russia sanctions, including dividends to a blocked Russian. Official source verified on November 13, 2026 | |
| CA Indosuez (Switzerland) S.A. (Crédit Agricole)Civil enforcement action (penalty or settlement) | France (group) / Switzerland | Banks and financial intermediaries | OFAC (US Treasury) | $720,258 | The bank ran dollar accounts for 17 clients living in sanctioned countries, although its KYC files showed those addresses. Official source verified on November 13, 2026 |
Select a column heading to sort the table. Amounts are shown in the currency of the decision and are never converted.
Totals by year and by authority
Sums of the amounts imposed on companies in this list, by currency, never converted. Not included: breaches published without a fine, anti money laundering penalties, confiscations and amounts imposed on individuals. A total marked about or more than includes an amount that the source gives as approximate or as a minimum.
By year
| Year | Cases | Total |
|---|---|---|
| 2025 | 1 | $750,000 |
| 2024 | 1 | $3,740,442 |
| 2022 | 1 | $720,258 |
By authority
| Authority | Cases | Total |
|---|---|---|
| OFAC (US Treasury) | 3 | $5,210,700 |
Maximum penalties set by law
Maximums in the law, as verified on the official texts linked:
- Switzerland (not in the EU), Embargo Act (EmbG, article 9): up to 1 year in prison, 5 years in serious cases; negligence up to CHF 100,000. Verified only in part, on an unofficial text. (Official source)
Frequently asked questions
How much can a company be fined for sanctions breaches in Switzerland?
Switzerland (not in the EU), Embargo Act (EmbG, article 9): up to 1 year in prison, 5 years in serious cases; negligence up to CHF 100,000. Verified only in part, on an unofficial text.
Which companies have been fined in cases involving this country?
This page lists 4 published cases. The largest amounts are: EFG International AG (OFAC (US Treasury), March 14, 2024): $3,740,442; ShapeShift AG (OFAC (US Treasury), September 22, 2025): $750,000; CA Indosuez (Switzerland) S.A. (Crédit Agricole) (OFAC (US Treasury), September 26, 2022): $720,258. SECO publishes its enforcement notices without names, so no Swiss decision with a company name could be listed.
Can a Swiss company be fined for negligence?
Yes: under the Embargo Act (EmbG) negligence can be fined up to CHF 100,000. This was verified on an unofficial text of the law.
Who enforces sanctions in Switzerland?
SECO (State Secretariat for Economic Affairs) enforces the Embargo Act and publishes its enforcement notices without names. Swiss companies have also been fined by US authorities.
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List not exhaustive, based on public official sources. Date of the last verification: November 13, 2026.
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