Credit Suisse said that it strongly rejects allegations of wrongdoing after dozens of media published results of coordinated, Panama Papers-style investigations into a leak of data on thousands of accounts held there in previous decades. A person leaked the information on the accounts ranging from the 1940s to the 2010s to Germany’s Sueddeutsche Zeitung. This shared it with the Organized Crime and Corruption Reporting Project and 46 other news organisations such as the New York Times, the Guardian of Britain and France’s Le Monde.
The allegations in the media articles included that the bank had human rights abusers and businessmen under sanctions among its clients. Credit Suisse strongly rejects the allegations and insinuations about the bank‘s purported business practices. The matters presented are predominantly historical and the accounts of these matters are based on partial, inaccurate, or selective information taken out of context. And this results in tendentious interpretations of the bank‘s business conduct. The bank said that it had received numerous inquiries from the consortium in the past three weeks and reviewed many of the accounts in question.
It also said that approximately 90% of the reviewed accounts are today closed. In that over 60% were closed before 2015. Of the remaining active accounts, they are comfortable that appropriate due diligence, reviews and other control related steps were taken in line with their current framework. They will continue to analyze the matters and take additional steps if needed.
