Habib Bank AG Zurich

Reference number: 113991

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Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

Identity

Check their details

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

Company details

From the company's Companies House record.

Company number
FC007990
Company status
Active
Company type
Overseas company
Incorporated
15 November 1973 (52 years old)
Registered office
Weinbergstrasse 59, Zurich, 8006, Switzerland

Current directors and secretaries

Name Role Born Appointed
Marco Duss (Dr) Director Aug 1943 28 Apr 1994
Ulrich Grete Director Aug 1942 1 Nov 2008
Andreas Daniel Laenzlinger (Dr) Director Aug 1943 1 Dec 2008
Urs Seiler Director Feb 1949 1 Aug 2012
Ursula Suter Director Apr 1954 1 Mar 2013
Raymond George Lennie Barnes Director Jun 1945 5 Sep 2014
Otto Burki (Dr) Secretary Not published 9 Aug 1976
Trevor John Bastow Secretary Not published 28 Apr 1994

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Activities and protection

What they can do, and how you are protected

  • Hold or safeguard your money FSCS may apply
    Eligible deposits are typically protected by the FSCS up to £120,000 per person, per banking group.
  • Give regulated advice FSCS may apply
    A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
  • Manage or trade investments FSCS may apply
    Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
  • Advise on or arrange mortgages FSCS may apply
    Mortgage advice and arranging may be FSCS-covered, up to the limit that applies.
  • Lend or arrange credit No FSCS cover
    Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.

Check your FSCS cover →

Show FCA detail (13 permissions)
  • Accepting Deposits
  • Administering a regulated mortgage contract
  • Advising on investments (except on Pension Transfers and Pension Opt Outs)
  • Advising on P2P agreements
  • Arranging (bringing about) deals in investments
  • Arranging safeguarding and administration of assets
  • Dealing in investments as agent
  • Dealing in investments as principal
  • Entering into a regulated mortgage contract as lender
  • Entering into regulated credit agreement as Lender (Excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
  • Exercising/having right to exercise lender's rights and duties under a regulated credit agreement (excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
  • Making arrangements with a view to transactions in investments
  • Safeguarding and administration of assets (without arranging)

Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Track record

Action taken against them

1 fine in 2012, £525,000 in total. This is part of the official register record and is worth reviewing before going ahead.

  • Fined £525,000 on 15 May 2012
    On 4 May 2012, the FSA imposed a financial penalty of £525,000 on Habib Bank AG Zurich ('Habib'). The penalty is in respect of Habib's failure to comply with Principle 3 in connection to its anti-money laundering ('AML') systems and controls between 15 December 2007 and 15 November 2010. Habib failed to take reasonable care to establish and maintain adequate AML systems and controls. Habib agreed to settle at an early stage of the FSA's investigation. It therefore qualified for a 30% (Stage 1) discount under the FSA's executive settlement procedures. Were it not for this discount, the FSA would have imposed a financial penalty of £750,000 on Habib. In particular, Habib failed to: (1) establish and maintain an adequate procedure for assessing the level of money laundering risk posed by prospective and existing customers (including maintaining a flawed High Risk Country List); (2) conduct sufficient enhanced due diligence ('EDD') in relation to higher risk customers; (3) carry out adequate reviews of its AML systems and controls; and (4) revise training adequately to address shortcomings in AML practice identified by the MLRO and to maintain sufficient records of staff completion of AML training and of all AML steps taken on individual customer accounts. As a consequence of the above failings, Habib was exposed to an unacceptable risk of handling the proceeds of crime. The FSA has considered the disciplinary and other options available to it and has concluded that a financial penalty is the appropriate sanction in the circumstances of this particular case. Since the commencement of the FSA's investigation, Habib and its senior management have worked in an open and co-operative manner with the FSA.

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Common questions

Frequently asked questions

Is Habib Bank AG Zurich FCA authorised?
Yes, Habib Bank AG Zurich (FRN 113991) is authorised by the FCA to carry out regulated activities.
Is my money safe with Habib Bank AG Zurich?
It depends on the product, but eligible claims may be protected by the FSCS. You can also refer complaints about Habib Bank AG Zurich to the Financial Ombudsman Service, free of charge.
Is Habib Bank AG Zurich a scam or clone?
Habib Bank AG Zurich is a genuine FCA-listed firm. However, scammers sometimes clone authorised firms. Always check that the contact details you were given match those on the FCA register before sending money or sharing information.
What is Habib Bank AG Zurich's Firm Reference Number (FRN)?
Habib Bank AG Zurich's FRN is 113991. You can verify it on the FCA register.