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Federal Reserve orders Credit Suisse to strengthen anti-money laundering policies

Federal Reserve orders Credit Suisse to strengthen anti-money laundering policies

December 22, 2020

WASHINGTON (Reuters) – The U.S. Federal Reserve ordered Credit Suisse Group AG on Friday to strengthen its anti-money laundering policies after bank examiners found deficiencies in its U.S. operations.

The order directs the bank to adopt a formal plan to overhaul its policies within 90 days to ensure it is appropriately monitoring for illicit activity, and regularly report to the regulator on its progress.

(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)

The post Federal Reserve orders Credit Suisse to strengthen anti-money laundering policies first appeared on One America News Network.

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