CSSF penalises Safra Sarasin for AML shortcomings
Luxembourg financial regulator the CSSF announced late last Friday a “reprimand” on a Swiss private bank named Banque J. Safra Sarasin (Luxembourg) S.A. for failing to comply with Luxembourg law on the fight against money laundering and terrorist financing (the AML/CFT law).
After CSSF scolding, Sarasin says ‘no actual’ laundering
Swiss private bank Banque j. Safra Sarasin, reprimanded by Luxembourg financial regulator CSSF in a public statement last Friday, has stated that the regulator had alleged no “actual money laundering activities”.