The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz square in Zurich, Switzerland, on Oct 1, 2019.BELLINZONA, Switzerland — Credit Suisse was convicted by Switzerland's Federal Criminal Court on Monday of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country's first criminal trial of one of its major banks.
"These deficiencies enabled the withdrawal of the criminal organisation's assets, which was the basis for the conviction of the bank's former employee for qualified money laundering," the court said. "This judgment places the responsibility for money laundering on people without any serious training or experience," her attorney said.
"What is significant about this case is that Switzerland is taking legal action against a company and not just any company — Credit Suisse is one of the jewels in the Swiss crown."
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