Swiss bank Reyl under investigation for negligence on dirty money

Swiss bank Reyl under investigation for negligence on dirty money

Confidential documents reveal that Reyl has housed politically sensitive figures' wealth without consistent respect for anti-money laundering rules. It is currently under investigation by the Swiss financial regulatory authority.

Anti-Money Laundering Act: According to the Public Prosecution Service, Rabobank structurally violated the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) between 2016 and 2021…

Rabobank must answer to the court for possibly not complying with anti-money laundering regulations. The bank recently spoke to the Public Prosecution Service about a possible settlement.

Rabobank must appear in court for errors that the bank allegedly made in the checks on money laundering and terrorist financing. This was announced by the Public Prosecution Service. The Public Prosecution Service has been investigating possible errors at the bank for more than two years. This investigation allegedly showed that the bank failed for years in conducting customer research and reporting suspicious transactions. The errors were alleg…

Reyl, the Swiss investment bank of Intesa Sanpaolo, has been in the sights of the Swiss supervisory authority for 4 years to verify the appropriateness of its money laundering systems and an exchange of communications published by the investigative journalism network Occrp (which also includes the Italian Irpi Media), reveal that according to Finma there is a “very high” propensity for risk combined with “a certain negligence” in the way in whic…

Geneva bank Reyl Intesa Sanpaolo is subject to an investigation by the Financial Market Supervisory Authority (Finma) for multiple "weaknesses" in the fight against money laundering and the control of so-called at-risk customers.