On 14th February, The Street reported on Credit Suisse AG senior executives in New York who got their assistants to complete training exercises for them.  From 2013 through 2015, 3 leaders of the unit that packages mortgages and other loans into securities for sale to investors were forced to give back a portion of their 2015 bonuses after the firm realised they had failed to complete required “eLearning modules” – computer-based training programs designed to keep employees up-to-date on the latest rules and procedures, having given their logins to administrative assistants to complete the required courses on their behalf.  Among the modules mentioned was Understanding Money Laundering, Terrorist Financing, Sanctions and Corruption.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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