Credit Suisse Charged Over Laundering Tied to Mozambique Loan

Swiss prosecutors charged Credit Suisse with failing to prevent money laundering linked to loans the lender provided to Mozambique to build a fishing fleet in what became the tuna bond scandal.

Credit Suisse and its now parent company UBS Group AG have been charged “with not taking all the required and reasonable organizational measures in the relevant period in 2016 to prevent the money laundering that was allegedly committed,” the Office of the Attorney-General of Switzerland said in a press release on Monday. It also said it has filed an indictment against an individual who worked at Credit Suisse.

“We ...