FINMA completed the proceeding against Banca Credinvest was opened 2018 after the bank was suspected of corruption connected with the Venezuelan clients. The corresponding measures were introduced by FINMA. Similar regulatory actions have been reflected in other policy areas, including the Banking act revision aimed at reinforcing depositor protection and institutional oversight.
In November 2018 FINMA received the information connected with the suspicion of anti-money-laundering regime. The information suspected corruption was linked to the Venezuelan oil company PDVSA.
According to FINMA’s report, the measures of Banca Credinvest against money laundering and system of risk management were inappropriate. This aligns with concerns raised in prior
FINMA emergency plans, which underscored systemic gaps in crisis preparedness across key institutions. This refers to the breach of the bank’s duty of due diligence towards to anti-money laundering regulation in the period of time between 2013 and 2017.