By Ariane Luthi
SWITZERLAND’S finance ministry has fined Lara Warner, former compliance chief of collapsed lender Credit Suisse, 100,000 Swiss francs ($114,000), according to a Swiss government order.
The bank executive failed to notify Switzerland’s anti-money laundering authorities of a suspicious 2016 transaction for 7.9 million francs handled by Credit Suisse and involving the finance ministry of Mozambique.
The case related to the $1.5 billion-plus ‘tuna bonds’ scandal that triggered a default crisis in Mozambique, the order said.
Warner, who worked at Credit Suisse between 2015 and 2021, is challenging the fine and assumed the charges would be dismissed in court, her lawyer told Reuters.
“The decision not to file a money laundering report was not made by Ms. Warner,” her lawyer said in a statement.
Credit Suisse was bought in 2023 by rival UBS (UBSG.S), opens new tab in a government-engineered takeover.
The bank subsequently settled the Mozambique case out of court.
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