Tag Archives: Beneficial Ownership

FINMA Credit Suisse FIFA Failings

On Sep. 17, FINMA announced Credit Suisse AML failure re FIFA. Announced the conclusion of two investigations into AML failings at Credit Suisse. Overview An investigation identified deficiencies in anti-money laundering due diligence, re suspected corruption involving FIFA, Petrobras, Petróleos de Venezuela (PDVSA). Second re significant business relationship with politically exposed person (PEP). Deficiencies in AML…
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FATF Issues Beneficial Ownership Report

On Jul. 18, FATF issued report on concealing beneficial ownership. FATF and Egmont Group issued report on the concealment of beneficial ownership. Beneficial Ownership Corporate vehicles can be misused to conceal ownership of illegally gained assets. New report assesses vulnerabilities linked to concealment of beneficial ownership, in order to support further risk analysis by governments and…
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