International Emergency Economic Powers Act sanctioned countries to wire money in violation of the Act as well as New York law from 1995 to 2006. The settlement resulted in Credit Suisse forfeiting $536 million. Forex manipulation, 2013 In 2013, Credit Suisse was fined €83.3 million for forex rates manipulation by the European Union Commission on Competition because of its participation in a cartel detrimental to E.U. consumers and involving several other large international banks. U.S. tax fraud conspiracy, 2014 In 2014, Credit Suisse pleaded guilty to conspiring with Americans to file false tax returns. Credit Suisse subsequently paid $2.6 billion in fines and restitution. Malaysia Development Berhad scandal, 2015 In September 2015 Hong Kong police began investigations regarding $250 million in Credit Suisse branch deposits in Hong Kong linked to former Malaysia's Prime Minister Najib Razak and Malaysian sovereign wealth fund, 1Malaysia Development Berhad (1MDB). In 2017, Singapore fined Credit Suisse a total of S$0.7m (£0.4m, $0.5m, €0.45m). In May 2017, Reuters reported that "Swiss financial watchdog FINMA ... had conducted "extensive investigations" into Credit Suisse's dealings surrounding 1MDB". In 2019 FINMA issued a complaint to Credit Suisse. Mozambique secret loans scandal, 2017 Between 2012 and 2016, Credit Suisse brokered US$1.3 billion of loans with Mozambican finance minister Manuel Chang, to develop the country's tuna fishing industry. The loans were issued as bonds to be paid off by the income from tuna fishing as well as the country's nascent natural gas industry. Chang lied to investors, his own government, the IMF and the banks issuing the loans, including Credit Suisse. Credit Suisse was fined almost US$500 million by UK, US and European regulators for a lack of transparency in the issuing of the bonds, for kickbacks benefitting Credit Suisse bankers and for enabling loans likely to be embezzled by Mozambican officials, including Chang. In October 2021, Credit Suisse pled guilty to wire fraud and agreed to forgive US$200 million in debt owed by Mozambique to the bank. US Foreign Corrupt Practices Act violation, 2018 On 5 July 2018, Credit Suisse agreed to pay a $47 million fine to the US Department of Justice and $30 million to resolve charges of the US Securities and Exchange Commission (SEC). The SEC's investigation said that the banking group sought banking-investment business in the Asia-Pacific region by hiring and promoting more than one hundred Chinese officials and related people in violation of the Foreign