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Swiss regulator censures Lebanon’s largest bank for serious money laundering violations

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Photo: Athanasios Gioumpasis/Getty Images

Jean Hurley

2 min read
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The bank was found to have kept information from FINMA, failed to report suspicious activities to their MLRO, and bypassed PEP protocols.

The Swiss Financial Market Supervisory Authority, FINMA, found that Banque Audi (Suisse) SA, a Switzerland-based subsidiary of a large Lebanese banking group, breached its obligations in preventing money laundering and thereby “seriously violated” market law.

The bank has been investigated over its ties to Lebanon’s former central bank governor Riad Salameh following a

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