Swiss regulators investigate bank

Swiss financial regulators announced this week that they are investigating Banque Privee Espirito Santo for its role in the alleged illicit banking affairs of one of the Espirito Santo family companies.

Banco Espirito Santo, one of Portugal’s largest banks, was previously shut down as part of a rescue plan to save its healthy assets. The family operation has various operations in various locations.

According to a New York Times report, Ricardo Espirito Santo Silva Salgado, the head of the family, was arrested in July “as part of a money-laundering and tax evasion investigation.”

The Swiss investigation is looking into whether the family unduly influenced operations of its Swiss-based bank.

According to Times reporter Chad Bray, “The Swiss inquiry underlines the difficulties in monitoring the dealings of a family that set up a corporate structure which allowed it to control its assets through a cascade of companies under different jurisdictions.”

RegTechONE for AML Compliance and KYC CDD

With AML Partners’ platform technology for RegTech, updating and upgrading your AML and eGRC software solutions is easier, faster, and much less expensive. Contact us today to explore how platform technology and our end-to-end AML Ecosystem powered by the RegTechONE platform–can transform the efficiency and effectiveness of your unique AML Compliance efforts. RegTechONE software for AML Compliance includes fully integrated modules for CDD KYC software for on-boardingbehavior and transaction monitoring software, and sanctions screening software for comprehensive AML screening. And AML Partners simplifies your end-to-end fully integrated AML Compliance efforts even further with an optional Subpoena Search module for FinCEN 314a and similar subpoena searches. Contact us today to learn about our proof-of-concept option or schedule a demo of RegTechONE, the AML software ecosystem. With extraordinary configurability and built for API extensibility, the RegTechONE AML software platformpowers not only an end-to-end AML software solution but also vendor managementAML client lifecycle managementeKYC Golden RecordsPerpetual KYC, and so much more.

Start achieving more today.

We are so confident in the power of RegTechONE to transform your GRC and AML Compliance solutions that we will prove it to you. Contact us today to experience all the ways that RegTechONE is The Power of Everything.

AML Partners logo/wordmark in white

347 Village Street
Concord, NH USA 03303

Copyright © 2023 AML Partners. All rights reserved.