Compliance Monitor
Credit Suisse to pay US$475m over corrupt Mozambique deals, plus restitution
The global investment bank has agreed a penalty totalling US$475 million with United States and United Kingdom regulators;
moreover, it will forgive US$200m of debt owed by Mozambique – because it defrauded investors in the financing of coastal
surveillance and tuna fishing projects in the country. Credit Suisse’s London-based operations committed egregious due diligence
and oversight failings between October 2012 and March 2016 in relation to loans for Mozambique worth more than $1.3 billion
as well as a bond exchange when repayments ran into trouble.