Swiss watchdog reprimands Credit Suisse over 1MDB dealings

Swiss watchdog reprimands Credit Suisse over 1MDB dealings

Arnd Wiegmann

"During the investigations, it was not established that the bank had committed any systematic breaches of supervisory law," a FINMA spokesman said in an emailed statement. "FINMA did, however, send the bank a written reprimand for shortcomings in its money-laundering processes."

It did not give any more details.

Earlier, Singapore's central bank said it had fined Credit Suisse and United Overseas Bank a total of S$1.6 million ($1.15 million) for breaching anti-money laundering rules in connection with transactions related to 1MDB.

(Reporting by Joshua Franklin; Editing by Michael Shields)

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