ZURICH (Reuters), Switzerland’s financial regulator has reprimanded 2 more Swiss banks for violating their obligations to fight money laundering. It is wrapping up a 5-year-long investigation into bank dealings with Venezuelan state oil company PDVSA.

During the investigation, the FINMA Watchdog contacted 30 Swiss banks. Two former heads of Julius Baer private bank have been questioned by the FINMA watchdog. Credit Suisse (SIX: ) Anti-corruption Failures

Since 2016, the investigation was initiated by FINMA. Five banks have been reprimanded total.

In the final case disclosed on Thursday, the regulator criticized Banca Zarattini & Co SA and CBH Compagnie Bancaire Helvétique SA.

FINMA stated that Banca Zarattini between 2014-2018 and CBH Bank from 2012-2020 had breached their obligations to fight money laundering.

Both banks didn’t provide enough economic background documentation to clarify business relationships or transactions that could be considered high-risk for money-laundering. It also stated that inadequate documentation was lacking in these areas.

FINMA placed a temporary ban to accept new clients from Venezuela and those with political exposure on Banca Zarattini. CBH Bank was ordered to end all business relations with Venezuelan clients.

CBH should also review and terminate any client relationships that are particularly risky, FINMA reported.

Banca Zarattini claimed that it had contacted the regulator immediately it learned of any potential issues and has been a great partner in the investigation. Since then, it had improved its compliance and anti-money laundering systems.

The bank “accepts without reservations the conclusions of the supervisory authorities in relation to bank money laundering.

CBH stated in a separate statement that FINMA hadn’t imposed sanctions against staff members of the bank and had made prior decisions about the restriction FINMA imposed.

($1 = 0.9279 Swiss francs)