Banks Ex-CS manager fined CHF 100,000 for Mozambique affair
The Federal Department of Finance (FDF) has fined the former head of risk at CS CHF 100,000. She had failed to report suspicions of money laundering in connection with the Mozambique affair in good time.
19.03.2025, 10:14
SDA
The accused was aware of the suspicious facts and nevertheless failed to submit a report to the Money Laundering Reporting Office Switzerland (MROS), writes the FDF in the penalty order, which is available to the Keystone-SDA news agency. SRF Investigativ and the Tamedia newspapers reported on this on Wednesday.
The Mozambique case involves loans to Mozambican state-owned companies amounting to 2 billion dollars. This was intended to strengthen the coast guard and build a tuna fishing fleet. However, hundreds of millions were diverted instead. CS accepted fines of around half a billion US dollars before the US judiciary. The former CS manager's lawyer denied the allegations.
