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Falcon Bank’s Swiss money-laundering conviction overturned on appeal

By Martin Coyle and Phoebe Seers ( July 4, 2023, 13:52 GMT | Insight) -- The defunct Falcon Private Bank has successfully appealed its Swiss money-laundering conviction. The Abu Dhabi-owned lender was ordered to pay more than 10 million francs ($11.2 million) in 2021 for “organizational deficiencies” that saw it fail to prevent money laundering linked to the 1MDB scandal. But the Federal Criminal Court's Appeals Chamber overturned that conviction.The defunct Falcon Private Bank has successfully appealed its Swiss money-laundering conviction, the first that had been secured against a bank in Switzerland....

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