Credit Suisse rejects allegations made in media reports on client criminality
Summary
- Credit Suisse said it has reviewed a large volume of accounts potentially associated with the matter and around 90% of them are closed or were in the process of closing before the media reports emerged
Credit Suisse Group AG on Sunday denied allegations made in media reports at the weekend that the bank managed accounts of clients involved in criminal activities.
“Credit Suisse strongly rejects the allegations and insinuations about the bank’s purported business practices," the Swiss bank said in a statement. “The matters presented are predominantly historical, in some cases dating back as far as the 1940s, and the accounts of these matters are based on partial, inaccurate, or selective information taken out of context," Credit Suisse.
According to the media reports, which are reportedly based on leaked information on more than 18,000 accounts, the Swiss bank had clients allegedly involved in human rights abuses, corruption and drug trafficking.
“While as a matter of law Credit Suisse cannot comment on potential client relationships, we can confirm that actions have been taken in line with applicable policies and regulatory requirements at the relevant times, and that related issues have already been addressed," the bank said.
Credit Suisse said it has reviewed a large volume of accounts potentially associated with the matter and around 90% of them are closed or were in the process of closing before the media reports emerged. It said it will continue “to analyze the matters and take additional steps if necessary."
This story has been published from a wire agency feed without modifications to the text
