Credit Suisse confirmed US authorities are
investigating cross-border private banking services provided to US
citizens as part of a wider industry probe.
The Swiss bank said it had been responding to
requests for information, including subpoenas, from the US
Department of Justice and other US authorities.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
In February, Credit Suisse told PBI
it was co-operating with US authorities in their investigation
against four bankers charged with conspiring to help US clients
evade paying US taxes by hiding money in secret Swiss accounts.
Similar circumstances to UBS tax
wrangle
Credit Suisse’s great rival, UBS, was at the
centre of a massive cross-border tax investigation launched by US
authorities in 2009 which led to UBS handing over the details of
some 4,450 US clients.
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“Subject to our Swiss legal obligations, we
will continue to cooperate with the US authorities in an effort to
resolve these matters,” Credit Suisse
said.
