Swiss prosecutors have charged Credit Suisse and its owner UBS (UBS) for organizational failures tied to a suspicious $7M payment in the Mozambique “tuna bonds” scandal, The Financial Times’ Mercedes Ruehl reports. Authorities say Credit Suisse lacked proper controls and delayed reporting the transaction until 2019. “We firmly reject the Office of the attorney-general’s conclusions and will vigorously defend our position,” UBS said in a statement.
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