Credit Suisse agrees $536 million sanctions OFAC settlement


WASHINGTON, DC – The US Treasury’s Office of Foreign Assets Control (OFAC) has announced a record $536 million settlement with Credit Suisse, after the Swiss bank violated OFAC’s rules in what the regulator called “egregious sanctions violations”. The joint resolution between the US Department of Justice and the New York County District Attorney’s Office is the largest in OFAC’s history.

Regulators said Credit Suisse had structured thousands of wire transfers to ensure the involvement of

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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