Julius Baer admits in court to facilitating money laundering in FIFA case – financial penalty close to $80M agreed after bank ignored ‘glaring red flags’ - AML Intelligence
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Julius Baer admits in court to facilitating money laundering in FIFA case – financial penalty close to $80M agreed after bank ignored ‘glaring red flags’

By Dan Byrne for AMLi

Swiss bank Julius Baer has today admitted in court that it took part in a multi-million dollar laundering scheme connected to soccer’s governing body FIFA.

The admission comes alongside the announcement of a final agreement between the medium-sized private bank based in Zurich, and the United States Department of Justice.

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