Zenoo Compliance Brief
Swiss regulator fines Mirabaud $15m for AML and KYC failures
Plus, BIS penalises Applied Materials $252m over China exports, Bahamas reports 2,771 financial crime cases since 2017, and UAE tightens beneficial ownership controls.
9 March 2026 · 4 min read
Mirabaud Bank copped a $15m hit from Swiss regulators this week for AML compliance gaps and deficient KYC procedures. The enforcement action signals tighter scrutiny of private banking's control frameworks. Elsewhere, the BIS has landed a $252m fine on Applied Materials for export violations, the Bahamas released a five-year crime reporting summary showing persistent detection challenges, and the UAE expanded its AML sanctions and beneficial ownership regime. All the detail below.
In today's brief
- 1 What Mirabaud's $15m penalty reveals about Swiss AML enforcement priorities in private banking
- 2 How did Applied Materials ship restricted semiconductor kit to China repeatedly without detection?
- 3 Why Bahamas' international banking sector shows 17% high-risk customers versus 2% domestic
- 4 Did your VASP or gaming operator undergo sanctions screening refresh in the last 30 days?
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