Morgan Stanley (Switzerland) fined CHF1m after AML missed Greek bribery proceeds

The Swiss arm of US bank Morgan Stanley has accepted a CHF1 million (US$1,107,735) financial penalty over its failure to detect suspicious activity and conduct adequate due diligence on source of funds deposited into accounts of a cousin of former Greek defence minister Apostolos-Athanasios Tsochatzopoulos, in 2010.

The Swiss arm of US bank Morgan Stanley has accepted a CHF1 million (US$1,107,735) financial penalty over its failure to detect suspicious activity and conduct adequate due diligence on source of funds deposited into accounts of a cousin of former Greek defence minister Apostolos-Athanasios Tsochatzopoulos, in 2010.