Credit Suisse must pay fines and compensation of 21 million Swiss francs, or $22 million, for lax controls that allowed an employee of the bank to help a Bulgarian drug ring launder money, Switzerland's Federal Criminal Court said Monday
Credit Suisse Group AG office building in Geneva, Switzerland, May 31, 2022.
Image: Jose Cendon/Bloomberg via Getty Images
Credit Suisse must pay fines and compensation of 21 million Swiss francs, or $22 million, for lax controls that allowed an employee of the bank to help a Bulgarian drug ring launder money, Switzerland’s Federal Criminal Court said Monday.
The ruling was the latest setback for the bank, which issued a profit warning this month and has been suffering from boardroom turmoil.
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