Criminal funds hosted by Credit Suisse for decades

(Paris) Credit Suisse has hosted tens of billions of euros of funds of criminal or illicit origin for several decades, says an international investigation carried out by several media and released on Sunday, accusations that the Swiss financial establishment “firmly rejects” .

Posted at 3:02 p.m.

The survey was conducted by the Organized Crime and Corruption Reporting Project (OCCRP), a consortium of 47 media including The world, The Guardianthe Miami Heraldthe Nationfollowing a major data leak submitted anonymously a little over a year ago to the German daily Suddeutsche Zeitung.

These data concern more than 18,000 bank accounts hosted at Credit Suisse between the beginning of the 1940s and the end of the 2010s and belonging to 37,000 people or companies, specifies the daily Le Monde.

“Based on a massive leak of information from thousands of bank accounts administered by Credit Suisse, [l’enquête] shows that in defiance of the rules of vigilance imposed on large international banks, the establishment, born in Zurich, has hosted funds linked to crime and corruption for several decades, ”writes the newspaper.

In a statement, Credit Suisse reacted to these accusations, saying that the data studied are “partial, inaccurate, or are taken out of context, resulting in a biased presentation of the conduct of business” by the bank.

“90% of the accounts concerned are now closed, including more than 60% before 2015”, assures the bank, which also specifies “conducting the investigation” concerning the data leak.

In total, more than 100 billion Swiss francs (more than 137 billion dollars) are involved in the accounts studied by the consortium. The leaks are mainly focused on developing countries: in Africa, the Middle East, Asia and South America and customers domiciled in Western Europe represent only 1% of the total, the newspaper specifies.

Credit Suisse, number two in the Swiss banking sector, has been rocked by a series of scandals over the past year. In March, the bank was shattered by the bankruptcy of the financial company Greensill, in which some $10 billion had been committed through four funds, then by the implosion of the American fund Archegos which cost some $5 billion. dollars in the bank.


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