Law introduced in Switzerland in 1998 to supplement the pertinent provisions of the penal code and the Agreement on the Swiss banks' code of conduct with regard to the exercise of due diligence. Under the law, financial brokers and agents are required to identify their contracting partners, to establish the beneficial owner's identity, to clarify the background of any unusual looking transactions, and to keep a record of this data. If there are reasonable grounds to suspect that the funds in question are of criminal origin, this is to be reported immediately to the relevant authorities and the funds blocked.