The timing of the leak could hardly be worse for Credit Suisse, which has recently been beset by major scandals. Many of those were still open well into the last decade, and a portion remain open today. While some accounts in the data were open as far back as the 1940s, more than two-thirds were opened since 2000. The bank also said the allegations were largely historical, in some instances dating back to a time when “laws, practices and expectations of financial institutions were very different from where they are now”. “Credit Suisse strongly rejects the allegations and inferences about the bank’s purported business practices,” the bank said in a statement, arguing that the matters uncovered by reporters are based on “selective information taken out of context, resulting in tendentious interpretations of the bank’s business conduct.” Composite: Guardian/David LeveneĬredit Suisse said that Switzerland’s strict banking secrecy laws prevented it from commenting on claims relating to individual clients. The revelations may fuel questions over whether Credit Suisse’s challenges over the past few years are indicative of a deep malaise at the bank. Inferences about the bank’s purported business practices". In its response, Credit Suisse said it "strongly rejects the allegations and Legitimate clients who had done nothing wrong. Illegal to have a Swiss account and the leak also contained data of Suggesting widespread failures of due diligence by the bank. They unearthed evidenceĬredit Suisse accounts had been used by clients involved in torture,ĭrug trafficking, money laundering, corruption and other serious crimes, They spent months using the data to investigate theīank, in a project coordinated by Süddeutsche Zeitung and the OrganizedĬrime and Corruption Reporting Project (OCCRP). The world including journalists at Le Monde, NDR, the Miami Herald and the The Guardian was among more than 48 media partners around Were still open well into the last decade, and a portion remain open In the billions. While some accounts in the data were open as far backĪs the 1940s, more than two-thirds were opened since 2000. Personal, shared and corporate bank accounts – holding, on average, 7.5m Swiss francs (CHF). Almost 200 accounts in the data are worth more than 100m
Linked to more than 30,000 Credit Suisse clients. Partial capture of the bank’s 1.5 million private banking clients, is Said Swiss banking secrecy laws were "immoral". The Swiss bank Credit Suisse. It comprises more than 18,000 bankĪccounts that were leaked to Süddeutsche Zeitung by a whistleblower who Secrets is a global journalistic investigation into a leak of data from
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