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Lara Warner, the former head of risk at Credit Suisse, has been fined 100,000 francs for failing to report a suspicion of money laundering linked to the Mozambique affair. The Federal Department of Finance's penal order states she showed "no remorse," and the Office of the Attorney General is also investigating her actions. This marks a significant step in holding top executives accountable for misconduct at the bank.
Lara J. Warner, former top manager at Credit Suisse, has been fined CHF 100,000 for her role in the Mozambique affair, where she allegedly concealed corrupt transactions. Despite warnings about potential money laundering, significant funds were funneled through the bank without proper reporting. Warner, who has shown no remorse, plans to appeal the decision, claiming she was not responsible for the failure to report suspicious activities.
Lara Warner, former head of compliance at Credit Suisse, has been fined CHF 100,000 by the Federal Department of Finance for her role in the Mozambique corruption scandal. The scandal involved $2 billion in loans for Mozambique's tuna industry, which were misappropriated through bribes. Despite being aware of money laundering suspicions, Warner allegedly refrained from reporting them to protect client relationships and has shown no remorse, planning to appeal the decision in Federal Criminal Court.
Lara Warner, the former head of risk at Credit Suisse, has been fined CHF 100,000 by the Federal Department of Finance for failing to report suspected money laundering related to an $8 million transaction linked to the Mozambique scandal in 2016. Warner plans to contest the penalty in court, as the order is not legally binding.
A former Credit Suisse executive has been fined CHF 100,000 for failing to report a suspicion of money laundering related to an $8 million payment linked to the Mozambique hidden debt scandal. The Federal Department of Finance issued a criminal order against Lara Warner, who plans to contest the ruling in court.In other news, the National Council will discuss a motion to ban donations from public companies to political parties, affecting UBS, while the EU unveils plans to bolster military spending and support the steel sector amid ongoing trade tensions with the US.
Lara Warner, head of compliance at Credit Suisse, faces a 100,000 franc fine for failing to report an $8 million payment from Mozambique as potential money laundering. Despite her involvement in the controversial Greensill and Archegos cases, she retained her position after Tidjane Thiam's resignation. The Zurich public prosecutor's office is investigating the Greensill case, with a raid on Warner resulting in the confiscation of her electronic devices.
Lara Warner, head of compliance at Credit Suisse, faces a 100,000 franc fine for failing to report an $8 million payment from Mozambique as potential money laundering. Despite her involvement in controversial loans linked to Greensill and Archegos, she retained her position after Tidjane Thiam's resignation. A police raid on Warner's property has led to an investigation by the Zurich public prosecutor's office.
Lara Warner, former compliance and risk management head at Credit Suisse, was fined CHF 100,000 for failing to report suspected money laundering linked to the Mozambique scandal, where $2 billion was misused. Despite her claims of compliance, the Federal Department of Finance criticized her for not proactively reporting suspicious transactions. The case has drawn further scrutiny, with the Office of the Attorney General investigating her actions alongside a former CS employee and UBS.
Lara Warner, former Chief Compliance Officer at Credit Suisse, has been fined CHF 100,000 for failing to report suspicious transactions linked to a €7.9 million payment in the Mozambique scandal. The Federal Department of Finance criticized her for acting with "willful intent" and showing "no remorse," highlighting her direct involvement and responsibility in the case. Additionally, the Office of the Attorney General of Switzerland is investigating her for potential money laundering offenses related to the same transactions.
Lara Warner, former Chief Compliance Officer at Credit Suisse, was fined CHF 100,000 by the Swiss Federal Department of Finance for failing to report a suspicion of money laundering linked to a $7.9 million transfer related to the Mozambique scandal. Despite being informed of the transaction's dubious nature, she did not act promptly, leading to accusations of a conflict of interest and negligence. The case highlights significant compliance failures within the bank during a period marked by financial misconduct and corruption.
Lara Warner
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