Swiss Banks Probed Over Links to Venezuela Graft
Case by a Watchdog
The logo of Swiss Financial Market
Supervisory Authority FINMA is seen outside their headquarters in Bern,
Switzerland April 5, 2016. REUTERS/Ruben Sprich Reuters.
Swiss financial watchdog FINMA said on
Wednesday it is investigating several Swiss banks over whether they fulfilled
their regulatory obligations as part of a probe linked to allegations of graft
involving Venezuela's state oil company.
A U.S. indictment this month accused five former
Venezuelan officials of soliciting bribes to help vendors win favorable
treatment from Petroleos de Venezuela (PDVSA) and stashing the money in banks,
including in Switzerland.
"FINMA is in contact with various Swiss banks in
connection with the PDVSA case," the watchdog said in an e-mail without
naming them. "The agency is checking to what extent Swiss banks are
involved and if they fulfilled their regulatory obligations."
Source: USNews
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