Credit Suisse money laundering verdict start of new era of Swiss enforcement?
By 
Neil Hodge2022-07-01T17:58:00
Credit Suisse became the first major Swiss bank to be prosecuted for money laundering in the country after the Federal Criminal Court of Switzerland found the bank guilty of washing money connected to a Bulgarian drug smuggling syndicate.
Related articles
-
News BriefSwitzerland floats AML reforms for beneficial ownership, legal advice
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
-
News BriefFINMA guidance calls out Swiss bank failings on AML risk analysis
Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
-
ArticleCredit Suisse names new CCO, plans strategic overhaul
Credit Suisse announced sweeping changes to its strategy that includes selling off parts of its investment banking portfolio and shrinking its global headcount—an attempt to pivot from risky investment ventures and back toward its historic specialty of wealth management.
More from Regulatory Enforcement
-
ArticleFTC secures $145 Million in settlements over misleading health insurance sales and data practices
Two major health insurance brokers will pay a combined $145 million to resolve Federal Trade Commission allegations that they misled millions of consumers and mishandled personal data, the agency announced Thursday.
-
ArticleOperators of crypto platform plead guilty to enabling money laundering
The owners of cryptocurrency mixing service Samourai Wallet pleaded guilty to transmitting more than $200 million in criminal transactions, according to the Department of Justice.
-
ArticleCrackdown on late payments could lead to U.K. companies facing million-pound fines
Late payers will soon face much larger fines in the U.K. in what is promised to be the “toughest crackdown on late payments in a generation.” The scheme is intended to save the 38 businesses a day that go bust because of poor payment practices.