The Hunter Group, an international forensic accounting firm led by Thomas Creal, former United Nations Panel Expert and financial forensic team lead for Task Force 2010 in Afghanistan, has announced their retention of Mr. Yuri Vanetik to investigate potential billion dollar claims for failing to detect laundered money through their banks.
Thomas Creal says of the hiring, “this failure to apply proper Know Your Customer protocols is a well adopted universal process. Banks have been paying billions of dollars over the past few years for small infractions of KYC. Mr. Vanetik is one the fastest civil attorneys I know and can formulate a complaint very quickly. I am very pleased that he has the time for this matter.”
The matter is the MUS case in Switzerland. The case is under appeal by the individuals, but no charges were ever brought against the slew of Swiss banks that were involved. Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published in October 2016.
“We have introduced a warning system in relation to money laundering risks,” FINMA Chief Executive Mark Branson said in an interview with Swiss newspaper Sonntags Zeitung. “Roughly 15 banks are in the red zone here. That means they are particularly exposed.”
Yuri Vanetik says, “the banks can be the best ally in the fight against black money, but they must step up and execute just like the rest of us. They can no longer hide behind the excuse that they didn’t know the money was being used for illicit activity”.
Between the Swiss and German banks, the aggregate penalties and fines paid has exceeded $15billion USD in the last three years.
For more information please visit www.hunterforensics.net.
SOURCE: The Hunter Group
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