US investigates Credit Suisse

Banking giant Credit Suisse said Friday it had received notice that it is being investigated by the US Department of Justice and other authorities regarding private banking services provided on a cross-border basis to US taxpayers.

The bank said in a statement it will continue to cooperate with US authorities to resolve these matters, and has “already been responding to requests for information, including subpoenas.”

The Credit Suisse statement comes five months after four Credit Suisse employees from the private banking division were indicted by the US on charges they had conspired to assist clients to evade taxes in the US.

Meanwhile, officials in Switzerland are in talks with the US to deal with allegations that several other Swiss banks helped clients evade taxes through hidden offshore bank accounts.


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