Swiss watchdog: Probes of money laundering jump in 2016

April 4, 2017 11:46 AM

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BERN, Switzerland – Switzerland's financial markets watchdog says it investigated 22 breaches of money laundering requirements last year, from nine in 2015, particularly linked to international corruption.

The authority, FINMA, said Tuesday that "serious shortcomings" came to light in 2016, including major cases involving the Malaysian sovereign wealth fund, 1MDB, and Brazilian oil company Petrobras.

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