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Tunisian Tumult Highlights the Difficulties of Doing Business with Foreign Politicos
By Colby Adams
printAn ousted Tunisian leader's transfer of suspect funds into Western bank accounts highlights the pitfalls financial institutions face when they maintain relationships for foreign political leaders, say compliance officers and analysts. On Wednesday, Tunisian officials issued an arrest warrant for former President Zine El Abidine Ben Ali on corruption and embezzlement charges, after the leader fled to Saudi Arabia on Jan. 14 during the height of street protests demanding his removal from power. Tunisian authorities have since arrested 33 family members of Ben Ali, Tunis Afrique Presse reported on Jan. 20. On Friday, a spokesman for Switzerland's Federal Department of...
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