Intesa’s Swiss Private Bank Faces Probe Over Money Laundering

Intesa Sanpaolo SpA’s Swiss private banking arm, Reyl, is under an investigation by the country’s financial regulator over suspected weaknesses in money-laundering controls.

The Geneva-based bank is “cooperating fully” with supervisory authorities and is striving “to enhance its internal processes and controls,” according to a statement on Wednesday. The investigative network OCCRP had reported the investigation earlier.

A spokesperson for the regulator Finma declined to comment on the matter. A spokesperson for Intesa referred to the Reyl statement.

Milan-based Intesa bought Reyl & Cie. SA in 2021 as part of its push into wealth management. The Geneva bank had ...