While everyone’s attention is on Ukraine, Credit Suisse (AGAIN???) is asking its business partners to eliminate evidence related to the tax evasion (money laundering?) of wealthy Russian oligarchs.
This comes a week after a leak disclosed that 30,000 private bank clients include the who’s who of dirty money, as well as the firm’s willful blindness: The world’s dirtiest money, welcomed by Credit Suisse. Again.
Is there any law and compliance regulation that this firm will not breach?
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A systemic effect is currently unfolding in the digital space. Stable coins have been hit, then coins, then lenders, then hedge funds and now crypto exchanges. Unfortunately, the lack of regulation, of regulator, of risk constraint, or even capital buffer will make the fall even more painful.
Should data science be a area of mathematics or a science by itself? Raphael Douady, a prized financial market academic, contends that it is a science in itself, and that French and Russian mathematicians ranks among the best.
Allianz Structured Alpha funds lost $7 billion of investor money in March 2020.
Gregoire Tournant, the portfolio manager, has been arrested.
The firm pleads guilty and will pay $5.8 in fines and restitutions.
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