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The Swiss Federal Prosecutor’s Office accuses the large bank of organizational shortcomings. Bulgarian drug traffickers used these vulnerabilities from 2004 to 2008 to launder illegal proceeds. Credit Suisse relies on an offensive defense.
Charges have been brought against Credit Suisse for failing to prevent money laundering by a Bulgarian drug gang.
After almost 13 years of investigation, the federal prosecutor’s office is taking a major investigation into international drug trafficking to court. As he announced on Thursday, he is also filing charges against major bank Credit Suisse (CS): From 2004 to 2008, he failed to correct deficiencies in his campaign against money laundering. In doing so, he made it possible for Bulgarian criminals to launder funds with the help of a CS client advisor. As a result, the bank also failed to lock the accounts in time, so the Bulgarian mafia was able to secure 35 million Swiss francs.
