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Violation Tracker UK Individual Case

Company: 
Credit Suisse
Current Parent Company: 
Credit 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)