FINMA Penalizes Julius Baer over Breach of Obligations to Stop Money Laundering

Posted on 02/22/2020

The Swiss Financial Market Supervisory Authority FINMA disclosed that Julius Baer fell significantly short in combating money laundering between 2009 and early 2018. Upon further analysis, the money laundering shortcoming are linked to the alleged cases of corruption linked to Petróleos de Venezuela S.A. (PDVSA), a Venezuelan state oil company, and FIFA, the world soccer…

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