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RSS FeedsSerious AML failings at Julius Baer
(WorldNews Switzerland)

 
 

20 february 2020 12:13:46

 
Serious AML failings at Julius Baer
(WorldNews Switzerland)
 


The Swiss Financial Market Supervisory Authority FINMA has found that Julius Baer fell significantly short in combating money laundering between 2009 and early 2018. The shortcomings arose in connection with alleged cases of corruption linked to PDVSA, an oil company, and FIFA, the world soccer federation, resulting in enforcement proceedings on the part of FINMA, which have now concluded. FINMA has instructed Julius Baer to undertake effective measures to comply with its legal obligations in combating money laundering and rapidly finalise the measures it has already started putting in place. Moreover, Julius Baer must change the way it recruits and manages client advisers managers as well...


 
105 viewsCategory: General > Europe > Switzerland
 
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