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FINMA Concludes Enforcement Against Julius Baer for AML Failures

FINMA Concludes Enforcement Against Julius Baer for AML Failures

First seen 30 Sep 2026, 16:28 UTC • •
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ThreatCluster AI
ThreatCluster •September 30, 2026 at 21:38 UTC
  • •FINMA identifies serious AML failures at Julius Bär linked to Russian PEPs.
  • •CHF 10 million in profits will be confiscated as a supervisory measure.
  • •This is the fifth enforcement action against Julius Bär in under ten years.

FINMA has closed its enforcement proceeding against Julius Bär, identifying serious failures in anti-money laundering (AML) practices linked to two Russian politically exposed persons (PEPs). The authority's findings include inadequate scrutiny of asset origins and breaches of reporting duties. As a result, FINMA is confiscating approximately CHF 10 million in profits, but this ruling is not yet legally binding. The enforcement action follows a series of previous measures imposed on Julius Bär for weaknesses in lending practices and risk management. The bank's private debt lending practices, which involved unlisted shares as collateral, were also criticized for lacking adequate internal regulations and controls. This marks the fifth enforcement proceeding against the bank in less than ten years, highlighting ongoing concerns about its risk management culture.

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Timeline

2024-12-01
FINMA initiates enforcement against Julius Bär
FINMA begins proceedings related to loans granted to a European group and its founder, citing AML concerns.
www.finma.ch
2025-08-01
Further enforcement opened by FINMA
FINMA opens an additional enforcement proceeding investigating AML breaches linked to Russian PEPs.
www.finma.ch
2026-09-29
FINMA closes enforcement proceeding
FINMA concludes its investigation into Julius Bär, citing serious AML failures and confiscating CHF 10 million in profits.
Fincrimecentral

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Common questions

What specific AML failures were identified?
FINMA found inadequate scrutiny of asset origins and breaches of reporting duties related to Russian PEPs.
What are the consequences for Julius Bär?
Julius Bär faces a confiscation of CHF 10 million in profits, but the ruling is not yet legally binding.
How many enforcement actions has FINMA taken against Julius Bär?
This is the fifth enforcement action against Julius Bär in less than ten years.