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Wireless

Swisscom's SMS fare payment service falls under the Anti-Money Laundering Act

Wednesday 9 May 2018 | 09:15 CET | News
Swisscom's SMS service for paying the night surcharge for Zurcher Verkehrsbund (ZVV) local public transport fares on one's telecom invoice falls under the provisions of the Money Laundering Act (GwG) according to a decision by the Federal Administrative Court, reported Inside-IT.ch. Swisscom filed a complaint with the Federal Administrative Court against a ruling by the Swiss Financial Market Supervisory Authority (Finma). Swisscom considers the facility only to be debt collection, which is not subject to the Anti-Money Laundering Act (AMLA).

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Categories: Mobile & Wireless
Companies: Swisscom
Countries: Switzerland
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