Watchdog says about 15 Swiss banks in money laundering 'red zone': SonntagsZeitung

Watchdog says about 15 Swiss banks in money laundering 'red zone': SonntagsZeitung
 

Roughly 15 Swiss banks are in a "red zone" of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published on Sunday.
Swiss federal prosecutors last week said that they have opened criminal proceedings against Zurich-based Falcon Private Bank for alleged failure to prevent suspected money laundering linked to Malaysia's scandal-tainted 1MDB fund.
Falcon is the second Swiss bank, after BSI, to face a criminal investigation by Switzerland's Office of the Attorney General over links to 1Malaysia Development... read more

 
16 October 2016 in Business, Views: 42
Source: Reuters
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