trending Market Intelligence /marketintelligence/en/news-insights/trending/MPMl3xHez6giWyONoQ-I3g2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Swiss banks report suspicious activity in Saudi-held accounts

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

Online Brokerage Space Should Remain Rich Source Of M&A

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts


Swiss banks report suspicious activity in Saudi-held accounts

Swiss authorities are reviewing information provided by the country's banks on suspicious transactions made by Saudi nationals, the Financial Times reported, citing "people close to the situation."

The country's banks are obligated to report such activities to the Swiss Money Laundering Reporting Office, according to the report.

"As is standard procedure, incoming information is currently being assessed," the Swiss attorney general's office told the FT. However, criminal proceedings have not been initiated, the office said.

In November, Saudi Arabia arrested dozens of royal family members, military officers, executives and government officials in an anti-corruption investigation led by Crown Prince Mohammed bin Salman, who heads the country's anti-corruption committee.

Credit Suisse Group AG said there were no implications on its business "with regards to the recent developments in Saudi Arabia," but that it will continue to monitor the situation closely, the FT said. UBS did not comment.