Ticino: after BSI another bank under investigation

The money laundering scandal widens again. Tuesday, during a press conference at which the Federal Financial Market Supervisory Authority announced it had ordered the dissolution within 12 months of the BSI, the director Mark Branson spoke of "six other Swiss banks are under investigation for their role in the corruption scandal Petrobras and the Malaysian fund 1MDB ".

Today rumors reported by the French press are bringing out the names of the other institutions that would be in the crosshairs of the investigators. Among these almost certainly PKB Privatbank, headquartered Lugano, and Zurich Coutts, against which Finma opened a procedure. In particular, the Ticino bank PKB Privatbank would in the Authority's viewfinder to the Petrobras deal, the investigation on allegations of corruption involving the oil company and several members of the Brazilian political and business establishment.

The PKB Privatbank confirmation "that it was informed in April 2016 which will be examined by FINMA as part of the deal Petrobras", while spelling out not to be "in no way implicated in the affair of the Malaysian fund 1MDB."