FINRA FINES CREDIT SUISSE USD16.5 MILLION OVER AML VIOLATIONS
December 1st, 2016
ZURICH-based global financial services company Credit Suisse has been fined USD16.5 million by the USA’s Financial Industry Regulatory Authority (FINRA) over three anti-money laundering (AML) related violations.
FINRA found that Credit Suisse had not only been failing to review its AML monitoring systems, but also failing to report suspicious transactions. And it found that Credit Suisse had been trading illegally in unregistered securities.
Brad Bennett, FINRA executive vice president and chief of enforcement, said: “It’s critical that firms have ...
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