CBH Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
CBH Bahamas client-account fraud judgment
The Bahamas Supreme Court found that fraudsters had taken more than USD 2 million from a client account and criticized CBH Bahamas for failing to exercise the required care and skill in detecting that it was communicating with criminals.
Venezuelan corruption and money-laundering allegations
U.S. investigative material and media reports alleged that CBH accounts were connected with schemes involving Venezuelan corruption proceeds. The reference also states that the Swiss regulator reprimanded CBH for anti-money-laundering shortcomings involving wealthy Venezuelan offshore clients. CBH said it did not know about money-laundering activity and complied with applicable laws.
Kazakh client and oligarch-related transaction scrutiny
Swiss reporting described a suspected-money-laundering complaint involving payments associated with a Kazakh oligarchic network and mentioned CBH. Separate reporting concerning Aliya Nazarbayeva described an allegation that funds intended for a 51% CBH stake were misappropriated by an adviser. The available reference does not establish that the proposed acquisition occurred or that CBH was found liable.
Eliminalia reputation-management allegations
The Story Killers project reported that CBH paid almost EUR 229,000 to reputation-management firm Eliminalia after working with its partner ReputationUp. The reported purpose was to remove online material linking the bank to offshore companies and money-laundering allegations.