REUTERS - Reuters

EFG settles Kuwaiti public official bribery laundering case for nearly USD 426 million.

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Published on Sept. 23th, 2026 Published on Sept. 23th, 2026

MSTAR comment

n September 2026, Swiss private bank EFG International reached a final agreement to resolve a long-standing lawsuit in the United Kingdom with the Public Institution for Social Security (PIFSS), Kuwait's public pension fund. The Kuwaiti fund was initially claiming around USD 450 million (approximately CHF 400 million) from EFG, accusing it of laundering bribes paid to its late director general, Fahad Al Rajaan, between 1995 and 2012.

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