Financial crime prevention

Financial crime can have serious social and economic consequences, and we believe in strong collaboration in the fight to make the financial system a hostile environment for criminal activity. Financial Crime Compliance supports our approach towards the objective of enabling sustainable business by ensuring we not only seek to eradicate criminal and unethical business practices but also focus on achieving the best possible outcomes for our clients in line with the applicable rules and regulations in the markets in which we operate.

We recognize our responsibility to help protect the integrity of the global financial system. In order to fulfil that responsibility, we have made, and continue to make, significant investments in our ability to detect, deter and report financial crime. We continue to partner with governments and other banks to advance our mutual interests in reducing the risks of financial crime.

Credit Suisse is also a proud member of the Wolfsberg Group, the industry-leading forum on Financial Crime risk, as well as the United for Wildlife Financial Task Force, and is committed to tackling issues such as illegal wildlife trade. We seek to detect environmental and social crimes by ongoing development of potential red flags for transaction monitoring purposes in order to detect potentially suspicious transactions and by sharing intelligence and good practices across public and private partnerships. A High-Risk Transaction (HRT) process is also in place to drive a holistic approach to evaluating high risk/complex clients that present heightened risks due to reputational, sustainability, financial crime or other compliance-related risks.

Credit Suisse conducts comprehensive financial crime risk assessments on a regular basis (minimum annually), incorporating bribery and corruption, money laundering, sanctions and tax evasion facilitation.

Our work in Financial Crime Compliance continues to be consistent with our strategic priority of safeguarding our clients and enabling sustainable business via utilizing industry-leading financial crime capabilities. We are continuing to evolve our approach to financial crime risk management, supported by advanced analytical capabilities designed to help us target illicit conduct with greater sophistication and precision. We have established a Financial Crime Compliance Framework which governs how we prevent, detect and report money laundering, terrorist financing, sanctions breaches, and bribery and corruption. We have a comprehensive Financial Crime training program, and all employees are required to complete mandatory Financial Crime Awareness training annually.