Credit Suisse is, reportedly, set share the names of more than 1,000 employees with US agencies probing unlawful money transfer into Swiss bank accounts by American citizens.
Former and current client advisors who processed payment authorisations for US clients are those affected, swissinfo.ch has reported.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
According to the publication, the affected employees have received emails and letters from the bank in recent days sharing the details of the development.
Former and current employees who are involved have to be given prior warning to allow them to engage legal assistance. They have until July 28 to lodge an objection.
Mario Tuor, spokesperson for Switzerland’s State Secretariat for International Financial Matters in Bern, told the publication that many Swiss banks were in negotiations to come to an out of court settlement with the US authorities over helping US clients avoid paying taxes.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
