Op risk data: EFG takes a bath for two decades of money laundering
Also: Deepfake voice clone cons Intesa division; key couple of cryptocurrency hacks. Data by ORX News
EFG International has settled a lawsuit for $426 million with the Public Institution for Social Security of Kuwait, constituting this month’s largest operational loss. PIFSS claimed the Swiss private bank had laundered kickbacks, allegedly paid through intermediaries to its late director-general, Fahad Maziad Al Rajaan, via entities for which he was the end beneficiary. PIFSS alleged that
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