Credit Suisse fined €238mn in French money laundering deal
Credit Suisse has agreed to pay France €238mn to settle claims that it broke laws on money laundering by luring wealthy clients to Switzerland.
The deal resolves one of the Swiss lender’s outstanding headaches ahead of a major restructuring this week.
It is the latest case to be resolved from a series of European investigations into undeclared Swiss bank accounts. In France alone, prosecutors have settled similar claims with HSBC and are pursuing penalties in court against UBS.
This story originally appeared on: Financial Times - Author:Sarah White
