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Credit Suisse fined over Mozambique tuna scandal

Investment bank Credit Suisse has been fined £147m by UK authorities over a corruption scandal involving Mozambique's tuna fishing industry.

The bank will also write off $200m of debt “tainted by corruption” that was owed by the African country, the Financial Conduct Authority said.

  • BBC

The fine is part of a $475m settlement with UK, Swiss and US regulators.

Credit Suisse staff allegedly took and paid bribes as they arranged $1.3bn of industry loans.

The UK’s Financial Conduct Authority (FCA) said the bank had “failed to properly manage the risk of financial crime”.

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