On 24 November, Swissinfo reported that the Swiss financial market regulator FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client; saying that the private bank had “failed to fulfil, or did not adequately fulfil, its obligations to clarify high-risk transactions by the client, which were in some cases in the tens of millions”. The affair dates back to 2018 but only recently became known through a decision by the Geneva Criminal Court. The Geneva public prosecutor’s office ordered account freezes totalling $1.2 billion at the end of 2018. Following a partial release, around $900 million remains frozen, and in July the court rejected an appeal by Carlos Manuel de São Vicente to unblock the funds.
https://www.swissinfo.ch/eng/swiss-regulator-censures-bank-syz-over-money-laundering/46054728
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raytodd.blog 