August 22, 2025|
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|3 months agoJ. Safra Sarasin Bank Fined CHF3.5M in Petrobras Money Laundering Case
Swiss private bank J. Safra Sarasin receives CHF3.5 million fine for aggravated money laundering in Petrobras corruption case, with additional CHF16 million settlement to Brazilian oil giant.
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Generated IllustrationKey Takeaways
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- J. Safra Sarasin Bank was fined CHF3.5 million for aggravated money laundering
- The bank paid an additional CHF16 million settlement to Petrobras
- The case is connected to the 'Lava Jato' corruption scandal
- Criminal investigation was opened in 2018 against the bank
By The Numbers
USD42.5 million
Total transfers executed but refused by recipient institutions
CHF2 million
Fine imposed on Pictet Bank
CHF750,000
Fine imposed on PKB Privatbank
They Said
"This order does not constitute an admission of guilt or an acceptance of civil or criminal liability on the part of the bank"