Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Two More NPAs Reached Under Swiss Bank Program

Jaclyn Jaeger | June 19, 2015

The Department of Justice today announced that two more banks—Bank Linth (Bank Linth) and Bank Sparhafen Zurich AG (BSZ)—have reached a resolution under the Department’s Swiss Bank Program, which provides a means for Swiss banks to resolve potential criminal liabilities in the United States. Bank Linth will pay a $4.1 million penalty, and BSZ will pay a $1.8 million penalty, in return for a non-prosecution agreement for tax-related criminal offenses.

To be eligible to enter the program, which was established in 2013, Swiss banks were required to advise the Justice Department by Dec. 31, 2013, that...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.