8chan/8kun QResearch Posts (2)
#8194756 at 2020-02-20 16:14:36 (UTC+1)
Q Research General #10491: Diggin Victoria's Secret [Epstein][Wexner]~Q Edition
Watchdog faults Swiss bank Julius Baer for money laundering lapses
Swiss bank Julius Baer has been reprimanded by the country's financial watchdog for ignoring money laundering risks in handling millions of francs of payments linked to corruption in Venezuela and world soccer body FIFA.
In a highly critical report, FINMA said there had been scores of failings at Switzerland's third-largest listed bank, such as its acceptance of a 70 million Swiss franc ($71 million) transfer for a Venezuelan customer in 2014 despite knowing he was accused of corruption.
The regulator's announcement, which outlined serious lapses as recently as 2018, comes as Switzerland seeks to change its image as one of the world's most opaque and secretive financial centers. Under pressure from tax authorities abroad, the Alpine nation pared back banking secrecy, though some experts say its concessions apply to rich countries rather than poor ones and recent scandals show money laundering remains a major risk.
FINMA told Julius Baer to improve its controls and appointed an auditor to oversee the group. Nonetheless, it did not make use of its power to demand the return of profits linked to wrongdoing, meaning the bank faces no financial penalty.
So it's a public slap on the wrist and nothing moar- faggots
In a similar case in 2016, FINMA confiscated 95 million Swiss francs from Swiss bank BSI only to have its decision overruled by a Swiss court in December.
The watchdog on Thursday said it had uncovered systematic failings and management inaction on money-laundering risks, with the vast majority of the 150-plus sample transactions it had examined showing irregularities between 2009 and early 2018.
Julius Baer acknowledged the lapses.
"We accept FINMA's findings and regret the shortcomings identified in our business with Latin American clients," said Chairman Romeo Lacher. "This is not compatible with the risk culture that we are striving to achieve."
The failings were connected to cases of corruption linked to Venezuelan oil company PDVSA and global soccer governing body FIFA, the regulator said.
FIFA has been embroiled in a bribery scandal that led to former president Joseph Blatter and former vice-president Michel Platini being banned from soccer in 2015 over illicit payments.
The Office of the Attorney General of Switzerland (OAG) said on Thursday that it had filed an indictment against former FIFA Secretary General Jerome Valcke, who it has charged with accepting bribes.
Venezuela's PDVSA, where military officials took over management in late 2017, is subject to sanctions from Washington, imposed in an effort to oust the South American country's President, Nicolas Maduro.
FINMA appointed an agent to investigate Julius Baer in 2017, broadening its inquiries in 2018 after the arrest of a Baer banker in the United States. The watchdog said Julius Baer had to take steps to identify bankers whose clients are a high money-laundering risk and adjust its pay and disciplinary policy to avoid risk.
Baer said it had since improved and would take action demanded by FINMA.
https://www.reuters.com/article/us-julius-baer-finma/watchdog-faults-swiss-bank-julius-baer-for-money-laundering-lapses-idUSKBN20E1K7
#5707987 at 2019-03-15 21:28:07 (UTC+1)
Q Research General #7300: The Real 'FUN' Starts SOON Edition
Resignations in the news 3/12/19 - part 1
NYC BIC Commissioner Brownell Resigns
https://www.waste360.com/public-agencies/nyc-bic-commissioner-brownell-resigns
New Market principal to resign
http://www.journalreview.com/news/article_3e4f986c-4443-11e9-aa81-fbba8731392e.html
Sandy Hacking to retire from Idaho department
https://magicvalley.com/business/sandy-hacking-to-retire-from-idaho-department/article_9f9527ca-4699-55d2-a481-e1808aa28690.html
Springboro PE teacher resigns from 2nd position amid misconduct investigation
https://www.daytondailynews.com/news/local/springboro-physical-education-teacher-resigns-amid-misconduct-investigation/vVonatlWN4MYjaZx2v66tI/
Orange principal fired, lawyer says
https://www.recorder.com/Donelan-out-at-Fisher-Hill-officials-refuse-to-say-why-24067236
Myers resigns as Waynesboro football coach
https://www.heraldmailmedia.com/sports/myers-resigns-as-waynesboro-football-coach/article_95cc262e-446a-11e9-ba61-478c1902388b.html
Niagara Parks Police chief fired and under investigation
https://www.thestar.com/news/canada/2019/03/12/niagara-parks-police-chief-fired-and-under-investigation.html
Siaya County CEC Resigns After Clash With Governor Cornel Rasanga
https://www.kenyans.co.ke/news/37767-siaya-county-cec-resigns-after-clash-governor-cornel-rasanga
Seratt retiring as executive director of Visit Vicksburg
https://www.vicksburgpost.com/2019/03/12/seratt-retiring-as-executive-director-of-visit-vicksburg/
Romeo Lacher to resign as SIX Chairman in 2020
https://www.finextra.com/pressarticle/77608/Romeo-Lacher-to-resign-as-six-chairman-in-2020
Cobb sheriff's second-in-command to retire
https://www.mdjonline.com/news/cobb-sheriff-s-second-in-command-to-retire/article_1aec14da-44fd-11e9-8998-b7661a96c48d.html
White House communications director resigns
https://www.cnn.com/videos/politics/2019/03/08/bill-shine-resignation-trump-white-house-communications-director-collins-lklv-ath-vpx.cnn
School Custodian Arrested, Fired for Alleged Rape of Student
https://www.necn.com/news/new-england/Leominster-Massachusetts-School-Custodian-Arrested-Inappropriate-Behavior-With-Student-507048861.html
SECAF Wilson announces resignation
https://lompocrecord.com/news/local/military/vandenberg/secaf-wilson-announces-resignation/article_bdbecd52-e0d0-537b-87f8-db99076566e2.html
Owner of historic German gnome company prepares to retire, putting future of business in question
https://abcnews.go.com/US/owner-historic-german-garden-gnome-company-prepares-retire/story?id=61629105
Grand Ledge Public Works Dept. superintendent, named in lawsuit over racist comment, resigns
https://www.lansingstatejournal.com/story/news/local/2019/03/12/grand-ledge-employee-named-lawsuit-over-racist-comment-resigns/3137943002/
Ogdensburg cop accused of rape fired from job
https://watertowndailytimes.com/news05/ogdensburg-cop-accused-of-rape-fired-from-job-20190313
Shell MLP's chairman resigns, replacement named
https://www.bizjournals.com/houston/news/2019/03/12/shell-mlp-s-chairman-resigns-replacement-named.html
City prosecutor fired, sues State's Attorney
https://foxbaltimore.com/features/operation-crime-justice/city-prosecutor-fired-sues-states-attorney