By Vish Gain for AMLi
A SENIOR MANAGER of Swiss private bank Julius Baer has been implicated in a money-laundering investigation after the country’s top financial watchdog launched an enforcement proceeding Thursday.
FINMA, Switzerland’s financial market supervisory authority, has said it is initiating proceedings in one case and dropping another after the concerned individual resigned. The investigation involves serious breaches of anti-money laundering regulations by Julius Baer, particularly in connection with alleged cases of corruption in Venezuela.
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