Former Credit Suisse manager fined CHF100K over Mozambique affair
Ex-CS manager fined CHF 100,000 for Mozambique affair
Keystone-SDA
Select your language
Generated with artificial intelligence.
Listening: Former Credit Suisse manager fined CHF100K over Mozambique affair
The Swiss Federal Department of Finance has fined the former head of risk and compliance at Credit Suisse CHF100,000 ($114,000) for failing to report in a timely matter suspicion of money laundering in connection with the Mozambique financing scandal.
This content was published on
2 minutes
Keystone-SDA
Deutsch
de
Ex-CS-Managerin wegen Mosambik-Affäre mit 100’000 Franken gebüsst
Original
The accused was aware of the suspicious facts and nevertheless did not make any effort to submit a report to the Money Laundering Reporting Office in Switzerland (MROS), writes the foreign ministry in the penal 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 totalling $2 billion. This was intended to strengthen the coastguard and build a tuna fishing fleet.
However, hundreds of millions were diverted instead. Credit Suisse accepted fines totalling around half a billion US dollars before the US judiciary. The former Credit Suisse manager’s lawyer denied the allegations.
Translated from German by DeepL/jdp
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
Popular Stories
More
Workplace Switzerland
Trump tariff shock: how Switzerland is positioning itself
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
This content was published on
Shopping around the clock, even on Sundays and public holidays: retailer Migros is planning Switzerland's first Migros supermarket with continuous opening hours in Herisau.
More and more unexploded army ordnance found in Swiss hiking regions
This content was published on
More and more unexploded ordnance is being defused in Switzerland. Thanks to over a thousand tips from the public, the army neutralised 273 such munitions last year, 26% more than the long-term average.
World Expo: Swiss present robot-controlled wedding cake with edible battery
This content was published on
Confectioners and scientists from Switzerland and Italy and have created a robot-controlled, edible wedding cake, "RoboCake".
This content was published on
The traditional Olma pig race is not a sporting event and may therefore not be authorised by the city of St Gallen under the title of sports betting, says the intercantonal gambling watchdog.
This content was published on
The Office of the Attorney General of Switzerland has filed charges against a 21-year-old Swiss national with the Federal Criminal Court for a planned jihad trip.
First asparagus of the year harvested in Swiss fields
This content was published on
The first Swiss asparagus this year have been harvested. Before Easter, however, there are still not enough for large-scale distributors.
This content was published on
Transaction prices for owner-occupied homes in Switzerland rose slightly in the first quarter of 2025. Demand is being supported in particular by mortgage rates, which remain low.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.