Compliance review found violations due to weaknesses in policies and procedures
Sanctions follow findings of 2023 review, which flagged four violations
Series of alleged violations included failing to report suspicious activity
Third former Credit Suisse banker sanctioned in corrupt loans scandal
Alleged scheme sold US$46 million in phantom interests in genuine vehicles
Fake advisor admits to fraud, money laundering, witness tampering
Regulator uncovered compliance issues, including dealings with Iran
Bank's profits to come under pressure from U.S. restructuring, slowdown
Authorities alleged that private fund duped investors
Long-term risks may outweigh short-term rewards, Fitch warns