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NEWS: Credit Suisse fined for money laundering and becomes first domestic Swiss bank found guilty of corporate crime

By AML Intelligence Correspondents

Credit Suisse today became the first Swiss bank found guilty of a corporate crime by Swiss authorities after failing to stop the laundering of Bulgarian drug money.

The case centred on Credit Suisse’s role in ignoring blatant red flags and accepting millions of euros in deposits from Bulgarian clients with suspicious backgrounds between 2004 and 2008.

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