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
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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
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.
