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.
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 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.