Credit Suisse announced new measures to combat money laundering in the case of Petrobras and PDVSA



GENEVA. The Swiss bank Credit Suisse failed in the fight against money laundering in cases of corruption related to Petrobras, PDVSA and FIFA, as announced today by the Financial Mark Supervision Authority (Finma) of Switzerland.

The audit body of the Swiss financial system has announced measures to correct the bank's performance, such as the strengthening of anti-money laundering rules.and the establishment of an independent commission to verify the implementation of these measures. Fines, however, are not applied.

La Finma conducted an investigation into the actions of Credit Suisse between 2006 and 2016 and in 2017 opened a procedure against suspicions regarding its behavior at the two South American state oil companies and at the directors of FIFA.

The conclusion is blunt: "The bank has violated its obligations to monitor the fight against money laundering in all three cases. "

In particular, the errors occurred by not correctly identifying the customers, not determining the beneficiaries of the offshore accounts and not identifying the risks of a commercial relationship.

The bank also made mistakes by not asking sufficient information from customers about the origin of the funds.

In another case, the Finma also states that Credit Suisse has not sufficiently assessed the potential risks of opening accounts of "politically prominent" people, which it does not quote.

"To combat money laundering, every department within the bank must be able to know the customer's relationship immediately and automatically," says the regulator, who assumes that this level of control was not applied by Credit Suisse.

For its part, the bank today stated in a statement that it cooperated with the investigations and adopted a series of measures to remedy the identified problems. Moreover, he attributed the problems to "inheritances" of other institutions he had acquired.

In its press release, the bank specifies that the measures announced by Finma do not result in the payment of fines or the profit of the deposited money.

Source EFE


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