Swiss authorities have launched a criminal investigation into the Mozambique ship-financing scandal, which has had a significant impact on UBS Group AG.

This comes after the Swiss Federal Court rejected an appeal from three unnamed bank units to keep investigation details confidential. The investigation focuses on a suspected illegal payment of $7.9 million that was allegedly deposited into a Credit Suisse bank account. Federal prosecutors are actively seeking information related to this case, which involves unidentified individuals.

This highlights the ongoing consequences of the scandal for the banking sector.