Go Back   English Forum Switzerland > Living in Switzerland > Swiss politics/news  
Thread Tools Display Modes
Old 25.04.2011, 02:30
jrspet's Avatar
Forum Legend
Join Date: Jul 2007
Location: Quaint Wädenswil, Zürich, CH
Posts: 8,131
Groaned at 27 Times in 20 Posts
Thanked 7,036 Times in 3,912 Posts
jrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond repute
My "bank" fined for money laundering scam

PostFinance, the financial services arm of Swiss Post, has been fined SFr250,000 ($283,000) for failing to detect a money laundering scam.

It is the first time a Swiss financial institution has been sanctioned under money laundering laws which require financial services to investigate the origins of suspicious money transfers.

The case dates back to February 2005 and a cash transfer of SFr4.6 million made to a PostFinance account held in the name of a director of a Dutch investment company.

Although PostFinance had verified that the account was not blocked, it did not conduct sufficient checks on the origins of the money, the Administrative Court of canton Solothurn ruled.

Swissinfo EN

Related news article in DE / translated EN

I guess it strikes yet another blow to their chances of obtaining a banking license.

Two employees have also been indicted on fraud and money-laundering charges says this report here. A previous report on this issue is here ( translated EN )
404 – punoɟ ʇou ɹoʇɐɹǝpoɯ
Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
"Help, my kid needs surgery!" A scam or a real need? coconut Daily life 31 05.04.2011 10:15
Deutsche Bank fined for "irresponsible" mortgage lending. Deep Purple International affairs/politics 3 22.02.2011 13:50
"You were only supposed to blow the bloody doors off" - German robbers destroy bank sharkey General off-topic 6 26.05.2010 16:40
Should I continue my "college"(elite high school) Or pursue an "apprentissage" Julian_ignacio Employment 39 20.04.2010 15:34

All times are GMT +2. The time now is 16:28.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0