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Violation Tracker UK Individual Case

Company: Credit Suisse
Current Parent CompanyCredit Suisse
Penalty: £292,209,276
Year: 2021
Date: 19 October, 2021
Offence Group: financial offences
Offence Type: banking violation
Violation Description: The Financial Conduct Authority fined Credit Suisse over £147 million for serious financial crime due diligence failings related to loans worth over US$1.3 billion, which the bank arranged for the Republic of Mozambique. FCA said these loans, and a bond exchange, were tainted by corruption. Credit Suisse also agreed with the FCA to forgive US$200 million (added to the penalty amount here as £145,019,000) of debt owed by the Republic of Mozambique as a result of these tainted loans.
Action Type: agency action
Agency: Financial Conduct Authority
HQ Country of Parent: Switzerland
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data(click here)