Retrieved
Switzerland’s financial watchdog said on Tuesday that Banca Credinvest must end its relationships with Venezuelan clients after it found that the Swiss lender had seriously breached anti-money laundering rules when handling their cash. The commercial bank must immediately withdraw from all client relationships with a connection to Venezuela, the Swiss Financial Market Supervisory Authority said. It also banned the bank from accepting any new clients that are considered to be high-risk, such as politically exposed persons, for three years. Full Text -> Law260
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