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Credit Suisse says upgrading money-laundering controls after Fed order

Published 12/22/2020, 11:43 AM
Updated 12/22/2020, 11:45 AM
© Reuters. Logo of Swiss bank Credit Suisse is seen in Zurich
CSGN
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ZURICH (Reuters) - Credit Suisse (SIX:CSGN) said on Tuesday it was upgrading its anti-money laundering controls after the U.S. Federal Reserve ordered the Swiss bank to address deficiencies within 90 days to make sure it catches illicit activities.

© Reuters. Logo of Swiss bank Credit Suisse is seen in Zurich

"The bank has already been implementing an extensive enhancement plan to its New York Branch BSA/AML procedures, processes and oversight, which predominantly addresses the requirements of today's agreement," Credit Suisse said in a statement.

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