ZURICH (Sept 17): Credit Suisse will be overseen by an independent monitor after failing in its duty to combat corruption in cases linked to soccer body Fifa and Venezuelan and Brazilian state oil companies, Swiss finance industry watchdog Finma said on Monday.

Separately, the Swiss authority determined Credit Suisse also fell short of its obligation to fight money laundering while managing "a significant business relationship for the bank with a politically exposed person", Finma said in a statement.

Instead of disciplining a successful relationship manager who repeatedly breached the bank's compliance regulations for years, Finma said Credit Suisse rewarded him with high payments and positive reviews.

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