# GwG Art. 7a — Assets of low value (de minimis) - **Rubric (DE):** Vermögenswerte von geringem Wert - **Rubric (EN):** Assets of low value (de minimis) - **Status:** In force ## Description Allows the financial intermediary to dispense with the due diligence duties of Art. 3–7 — identification of the contracting party, establishment of the beneficial owner, renewed identification, special/enhanced clarification, and documentation — where a relationship involves only assets of low value (*Vermögenswerte von geringem Wert*) and there are no indications of possible money laundering or terrorist financing. Both conditions are cumulative: the exemption falls away as soon as either the low-value threshold is exceeded or any suspicion arises. The Act itself does not fix the CHF figure defining "low value"; that concrete threshold is not stated in the Act. The provision was inserted by the 3 October 2008 act implementing the revised FATF Recommendations, in force since 1 February 2009. ## Context & interpretation Art. 7a is one of the few statutory *Bagatellfälle* carve-outs in the Swiss CDD regime, giving legislative form to the FATF risk-based approach's low-risk end rather than a blanket small-account exemption — it can be relied on only while there is no indication of money laundering or terrorist financing. ## Serves AMLR - [[AMLR Art. 20 - CDD measures|AMLR Art. 20]] — CDD measures ## Further AMLR connections - [[AMLR Art. 33 - Simplified due diligence|AMLR Art. 33]] — GwG Art. 7a lets an intermediary waive the Art. 3–7 due diligence duties altogether where only low-value assets are involved and there is no suspicion (a value test); AMLR Art. 33 only permits listed simplified measures where risk is low (a risk test) and withdraws them on suspicion. *(related)* ## FATF - [[FATF R.10 - Customer due diligence|FATF R.10 — Customer due diligence]] — GwG Art. 7a lets the intermediary dispense with the Art. 3-7 duties for assets of low value where there are no indications of money laundering or terrorist financing. *(related)* ## Authoritative text > [!quote]- GwG Art. 7a — German original, SR 955.0, consolidated version of 1 October 2026 (Fedlex) > **Art. 7a Vermögenswerte von geringem Wert** > Der Finanzintermediär kann auf die Einhaltung der Sorgfaltspflichten (Art. 3–7) verzichten, wenn die Geschäftsbeziehung nur Vermögenswerte von geringem Wert betrifft und keine Verdachtsmomente für mögliche Geldwäscherei oder Terrorismusfinanzierung vorliegen.