EventsEventsPodcasts
Loader

Find Us

ADVERTISEMENT

Credit Suisse plans to appeal money-laundering verdict

Credit Suisse plans to appeal money-laundering verdict
Credit Suisse plans to appeal money-laundering verdict Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Share this articleComments
Share this articleClose Button

BERLIN - Credit Suisse said on Monday it would appeal a landmark decision by Switzerland's Federal Criminal Court to convict the bank and a former employee of failing to prevent money-laundering.

The court fined Credit Suisse 2 million Swiss francs ($2.08 million) after finding it did not do enough to prevent an alleged Bulgarian cocaine trafficking gang from laundering profits through the bank from 2004 to 2008.

"Credit Suisse is continuously testing its anti-money laundering framework and has been strengthening it over time, in accordance with evolving regulatory standards," the bank said in a statement in response to the decision.

($1 = 0.9595 Swiss francs)

Share this articleComments

You might also like

French football captain warns against 'extremes' before election

Latest news bulletin | June 16th – Evening

Pilgrims commence final rites of Hajj as Muslims celebrate Eid al-Adha