Switzerland's finance ministry has fined Lara Warner, the former compliance chief of the collapsed Credit Suisse, 100,000 Swiss francs ($114,000) for failing to notify the country's anti-money laundering authorities about a suspicious 2016 transaction of 7.9 million francs that involved the finance ministry of Mozambique.
This case is linked to the over $1.5 billion that sparked a default crisis in Mozambique. Warner, who held her position at Credit Suisse from 2015 to 2021, is contesting the fine and her lawyer expects the charges to be dismissed in court.
According to her lawyer, "The decision not to file a money laundering report was not made by Ms. Warner."
Credit Suisse was acquired by rival UBS in 2023 in a government-engineered takeover, following which the bank settled the Mozambique case out of court.