Swiss NGO Denounces UBS
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The Swiss bank has been accused of money laundering among other wrongdoings in a complaint by the Swiss NGO Public Eye.
The Swiss NGO Public Eye has filed a criminal complaint against UBS with the Office of the Attorney General of Switzerland, as the newswire AWP reported Friday.
The plaintiff is accusing the bank of money laundering and not doing enough to prevent it, the report said.
The allegations are based on Public Eye’s Congo Hold-Up investigation carried out last year, which highlighted the relationship of the former president of the Democratic Republic of Congo, Joseph Kabila to a Belgian businessman. The businessman allegedly received transfers of «dubious» origin on his UBS bank account.
Based on the NGO’s Congo report, the French Financial Prosecutor’s Office has opened a preliminary investigation, which is looking into alleged acts of aggravated laundering of misappropriation of public funds, while the Belgian justice has searched the Belgian businessman’s home on suspicion of corruption of foreign public officials, the NGO writes on its webpage.
In 2019, Public Eye filed a criminal complaint against Credit Suisse in connection with the Mozambique affair.
Questions & Answers
Q.What specifically is UBS being accused of in this complaint?
What specifically is UBS being accused of in this complaint?
The Swiss NGO Public Eye has accused UBS of money laundering and failing to do enough to prevent it. These allegations are part of a criminal complaint filed with the Office of the Attorney General of Switzerland.
Q.What is the basis for Public Eye's allegations against UBS?
What is the basis for Public Eye's allegations against UBS?
The allegations stem from Public Eye’s Congo Hold-Up investigation, which highlighted links between a former Congolese president and a Belgian businessman. The businessman allegedly received transfers of 'dubious' origin into his UBS account.
Q.Have other legal bodies taken action based on Public Eye's investigation?
Have other legal bodies taken action based on Public Eye's investigation?
Yes, the French Financial Prosecutor’s Office has opened a preliminary investigation into alleged aggravated laundering of public funds. Also, Belgian justice officials have searched the Belgian businessman’s home on suspicion of corruption.
Q.Has Public Eye made similar complaints against other banks?
Has Public Eye made similar complaints against other banks?
Yes, Public Eye previously filed a criminal complaint against Credit Suisse in 2019. That complaint was related to the Mozambique affair, as mentioned in the article.
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