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Home > Finance > Switzerland fines former Credit Suisse executive over Mozambique case

Switzerland fines former Credit Suisse executive over Mozambique case

Published by Global Banking & Finance Review®

Posted on March 19, 2025

1 min read

Last updated: January 24, 2026

Switzerland fines former Credit Suisse executive over Mozambique case - Finance news and analysis from Global Banking & Finance Review

Quick Summary

Switzerland fines ex-Credit Suisse exec Lara Warner over a 2016 transaction linked to Mozambique's tuna bond scandal. Warner is contesting the fine.

Switzerland Fines Ex-Credit Suisse Exec in Mozambique Case

ZURICH (Reuters) - Switzerland's finance ministry has fined Lara Warner, former compliance chief of collapsed lender Credit Suisse, 100,000 Swiss francs ($114,000), according to a Swiss government order seen by Reuters on Wednesday.

The bank executive failed to notify Switzerland's anti-money laundering authorities of a suspicious 2016 transaction for 7.9 million francs handled by Credit Suisse and involving the finance ministry of Mozambique.

The case related to the $1.5 billion-plus "tuna bond" scandal that triggered a default crisis in Mozambique, the order said.

Warner, who worked at Credit Suisse between 2015 and 2021, is challenging the fine and assumed the charges would be dismissed in court, her lawyer told Reuters.

"The decision not to file a money laundering report was not made by Ms. Warner," her lawyer said in a statement.

Credit Suisse was bought in 2023 by rival UBS in a government-engineered takeover.

The bank subsequently settled the Mozambique case out of court.

($1 = 0.8774 Swiss francs)

(Reporting by Ariane Luthi. Editing by Mark Potter)

Key Takeaways

•Lara Warner fined 100,000 Swiss francs by Swiss finance ministry.
•Fine relates to a 2016 transaction linked to Mozambique's tuna bond scandal.
•Warner challenges the fine, claiming decision wasn't hers.
•Credit Suisse settled the Mozambique case out of court.
•UBS acquired Credit Suisse in a government-engineered takeover.

Frequently Asked Questions about Switzerland fines former Credit Suisse executive over Mozambique case

1What is the main topic?

The main topic is the fine imposed on Lara Warner, former Credit Suisse executive, over a transaction linked to Mozambique's tuna bond scandal.

2What was the fine amount?

Lara Warner was fined 100,000 Swiss francs by the Swiss finance ministry.

3What is the tuna bond scandal?

The tuna bond scandal involved over $1.5 billion in loans to Mozambique, leading to a financial crisis.

Switzerland Fines Ex-Credit Suisse Exec in Mozambique Case

The case related to the $1.5 billion-plus "tuna bond" scandal that triggered a default crisis in Mozambique, the order said.

Warner, who worked at Credit Suisse between 2015 and 2021, is challenging the fine and assumed the charges would be dismissed in court, her lawyer told Reuters.

"The decision not to file a money laundering report was not made by Ms. Warner," her lawyer said in a statement.

Credit Suisse was bought in 2023 by rival UBS in a government-engineered takeover.

The bank subsequently settled the Mozambique case out of court.

($1 = 0.8774 Swiss francs)

(Reporting by Ariane Luthi. Editing by Mark Potter)

Key Takeaways

•Lara Warner fined 100,000 Swiss francs by Swiss finance ministry.

•Fine relates to a 2016 transaction linked to Mozambique's tuna bond scandal.

•Warner challenges the fine, claiming decision wasn't hers.

•Credit Suisse settled the Mozambique case out of court.

•UBS acquired Credit Suisse in a government-engineered takeover.

Frequently Asked Questions

1What is the main topic?

The main topic is the fine imposed on Lara Warner, former Credit Suisse executive, over a transaction linked to Mozambique's tuna bond scandal.

2What was the fine amount?

Lara Warner was fined 100,000 Swiss francs by the Swiss finance ministry.

3What is the tuna bond scandal?

The tuna bond scandal involved over $1.5 billion in loans to Mozambique, leading to a financial crisis.