July 2022 1st Edition

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i-aml Credit Suisse Convicted by Swiss Court over Laundering Drug Money

Credit Suisse Convicted by Swiss Court over Laundering Drug Money

A Swiss court ordered Credit Suisse to pay the equivalent of US$22 million for failing to prevent a Bulgarian crime ring from laundering money related to cocaine trafficking. The Swiss Federal Criminal Court found on Monday that the bank’s lax regulations and anti-money laundering shortcomings allowed a former employee, who managed relations with the criminal gang, to carry out transfer orders between July 2007 and December 2008 despite “concrete suspicions regarding the criminal origin of the funds,” stated the court

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i-aml uganda gold

Massive 12 Trillion USD Gold Deposits Discovery in Uganda

Uganda announced that it had discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted. A spokesperson from the Ministry of Energy and Mineral Development in Uganda, Solomon Muyita, said that these reports are aimed at attracting gold miners and investors

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Greece: Novartis sued for 214 Million Euros over Bribery Case

After years of investigations, obstructions and politicization, Greece has taken legal action against Swiss-based pharmaceutical giant Novartis over allegations it bribed doctors to inflate drug prices. “Today, the Greek state filed a lawsuit against Novartis amounting to 214 million euros (US$225 million) for the moral damage suffered by the Greek

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