Credit Suisse accused of helping wealthy Americans evade taxes
[ad_1]
Swiss bank Credit Suisse has been helping its wealthy American clients avoid taxes for years. About this today, March 29, informed the US Senate Finance Committee, citing two informants who used to work in a bank and are now cooperating with the US authorities. According to them, the bank was actively engaged in this even after in 2014 the United States fined him for $2.6 billion for the same violation.
In addition to paying a fine, Credit Suisse then changed some rules, including the disclosure of data on cross-border transactions, more active cooperation with the authorities, etc. However, as follows from the results of a two-year investigation published by the Finance Committee, the bank continued to violate the rules. According to the investigation, there were at least 23 accounts of wealthy Americans in Credit Suisse that violated the rules of combating tax evasion. In total, they held over $700 million.
Whistleblowers also say the practice was linked to a culture at Credit Suisse that required bank employees to attract wealthy customers and keep them at the bank. They note that because of this, many bankers turned a blind eye to violations and bypassed customer verification procedures. Credit Suisse said it has zero tolerance for tax evasion and is cooperating with the US investigation.
In recent years, the bank has repeatedly found itself at the center of scandals. In mid-March, Credit Suisse shares plummeted after it reported irregularities in its financial statements. After that, the bank turned to the Swiss authorities for help, and as a result, it bought another Swiss bank, UBS.
[ad_2]
Source link
