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Credit Suisse faces anti-money laundering charges linked to Bulgarian mafia

The bank has been accused of failing to take all the measures that were reasonable to prevent the laundering of assets belonging to and under control of the criminal organisation

By

Paul Clarke

The Office of the Attorney General of Switzerland said in a 17 December statement that Credit Suisse has been accused of "failing to take all the organisational measures that were reasonable and required to prevent the laundering of assets belonging to and under the control of the criminal organisation"
The Office of the Attorney General of Switzerland said in a 17 December statement that Credit Suisse has been accused of "failing to take all the organisational measures that were reasonable and required to prevent the laundering of assets belonging to and under the control of the criminal organisation" Photo: Getty Images

Credit Suisse has been drawn into a criminal investigation by the Office of the Attorney General of Switzerland into money laundering related to a Bulgarian mafia allegedly responsible for trafficking drugs.

The Swiss bank said in a statement on 17 December it "takes note with astonishment" the decision of the court to bring charges against it for a long-term investigation into its role for allegedly laundering money for Bulgarian clients accused of trafficking illegal narcotics on a "grand scale".

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