Three Swiss bankers, believed to be from Zürcher Kantonalbank (ZKB), have been charged by US Attorney of the Southern District of New York for conspiring to hide more than $420 million in Swiss bank accounts.
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Businessman Sir Keith Mills has settled with Coutts after taking the private bank to court for allegedly mis-selling him AIG bond products and inadequately explaining the risks associated with the bonds.
UK bank HSBC group has agreed to pay US authorities $1.92bn in relation to investigations regarding inadequate compliance with anti-money laundering (AML) and sanction laws. Standard Chartered has also settled with US authorities for $327m in connection with historical sanctions compliance and U.S. dollar payment practices.