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The Federal Department of Finance has fined a former Credit Suisse risk manager 100,000 francs for failing to report suspicions of money laundering related to the Mozambique scandal. Despite being aware of a nearly $8 million deposit that raised red flags, she did not notify the Money Laundering Reporting Office. The scandal, which began in 2013, involves 2 billion francs in loans to Mozambique for a tuna fishing fleet, with much of the funds allegedly misappropriated by corrupt officials.
The Swiss Ministry of Finance has fined former Credit Suisse risk head Lara Warner 100,000 Swiss francs for failing to report suspected money laundering linked to a $7.9 million payment in 2016, part of the Mozambique scandal. This penalty is the second-highest for such breaches. Warner's lawyer claims the decision is unjust, asserting that she was not responsible for the failure to report and plans to seek judicial review.
Lara J. Warner, the former head of risk at Credit Suisse, has been fined 100,000 Swiss francs for failing to report suspected money laundering linked to the Mozambique scandal. Despite her role in combating such activities, she is accused of disregarding regulations and is appealing the decision. The case marks the first conviction of a top executive from Credit Suisse in this matter.
Nathalie Benko has filed for divorce from her husband, former billionaire René Benko, amid his significant financial and legal troubles, including pre-trial detention and bankruptcy. The couple, who share three children, faced turmoil as René's real estate empire collapsed under mounting debts and legal scrutiny across multiple countries. Nathalie's decision reflects a desire to prioritize her family's wellbeing and escape the ongoing crisis surrounding her husband's downfall.
Lara Warner, the former head of risk at Credit Suisse, has been fined 100,000 francs for failing to report suspicions of money laundering related to the Mozambique affair, where $2 billion in loans were misappropriated. Despite negative media reports and known corruption risks, the bank did not alert the Money Laundering Reporting Office until 2019, after the scandal became public. Warner's lawyer plans to appeal, asserting that the decision not to report was not hers.
A former Credit Suisse executive has been fined CHF 100,000 for failing to report suspected money laundering linked to a $7.9 million payment from the Mozambique Ministry of Finance in 2016. This payment was associated with a $2 billion credit scandal involving misappropriated public funds. The executive, who was head of compliance and risk, plans to appeal the fine, while the Swiss Federal Prosecutor's Office has launched an investigation into the matter.
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.
Four arrests have been made in a corruption investigation involving Huawei and the European Parliament, with suspects charged for corruption and membership in a criminal organization. The investigation, dubbed Huawei-gate, has revealed that members of parliament allegedly received gifts and benefits to influence EU policies. Key figure Valerio Ottati, Huawei's public relations director, is under scrutiny as searches were conducted in Belgium and Portugal, with further actions against EU parliamentarians possible.
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.
Anti-Money Laundering (AML) Regulations
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former credit suisse risk manager fined for failing to report money laundering
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former credit suisse manager fined for failing to report money laundering
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