Follow TopicFollow Contributor Share Feedback
Credit Suisse Fined €238mn in French Money Laundering Case

Credit Suisse Fined €238mn in French Money Laundering Case

by Starling Insights

Starling Insights Editorial Board

Nov 07, 2022


Credit Suisse recently agreed to pay €238 million to settle French money laundering charges. Prosecutors accused the bank of encouraging wealthy clients to set up bank accounts in Switzerland between 2005 and 2012, which were then out of reach of French tax authorities.

According to a French judge who oversaw the settlement, part of the investigation focused on how the bank captured 4,999 French clients, with assets under management totaling €2 billion. The judge stated that Credit Suisse staff held client meetings “very discreetly” and “never in official buildings." The bank profited an estimated €65 million from the business dealings.

This content is available to paid Members of Starling Insights.

If you are a Member of Starling Insights, you can sign in below to access this item. 


If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform.  Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.

Join The Discussion

See something that doesn't look quite right?

We strive to provide high quality and accurate content at all times. With that said, we realize that sometimes links break, new information becomes available, or there is something that you feel we may have missed.

If you see something that you think we should be aware of, we would love to hear from you. Feel free to drop us a note below and leave your name and contact info if you'd like to hear back from us.

Thank you for being a key part of the Starling Insights community!