Red Flags
8
Compagnie Bancaire Helvetique
CBH Bank faces allegations of failing to prevent money laundering, with ties to Venezuelan corruption and questionable transactions involving Kazakh elites. It has faced regulatory scrutiny for inadequate AML compliance.
Quick summary on Compagnie Bancaire Helvetique
Failure to Prevent Money Laundering:
Swiss authorities and the Swiss Financial Market Supervisory Authority (FINMA) have criticized CBH for failing to implement proper measures to prevent money laundering, particularly in dealings with wealthy offshore clients from Venezuela and other regions.
Association with Corruption Cases:
Linked to alleged Venezuelan corruption schemes, including laundering fraud and embezzlement proceeds. While CBH denies wrongdoing, its name has surfaced in U.S. investigations.
Implicated in financial misconduct involving Kazakh billionaires and questionable transactions tied to the Akhmetzhan Yessimov clan and Aliya Nazarbayeva, the youngest daughter of Kazakhstan’s former president.
Regulatory Actions:
CBH Bank and other institutions, like Banca Zarattini & Co., faced regulatory scrutiny for inadequate compliance with anti-money laundering (AML) measures in interactions with offshore clients.
Intel Reports
by: Sophia Clark
This bank is a total joke, their customer service is non-existent! I waited for hours just to get a simple answer, and they still messed it up. Never again
by: Mia Allen
Horrible experience with Compagnie Bancaire Helvetique. They charge hidden fees and don’t even explain them properly. Stay away if you value your money