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Bloomberg
Credit Suisse Group AG faces a criminal probe for helping more than 2,600 Belgian clients to hide untaxed earnings in Swiss accounts, L’Echo reported.
The inquiry into Swiss lender concerns money laundering and acting as an illegal financial intermediary, the newspaper said, citing a spokesman for Belgium’s Federal Prosecutor’s office.
Prosecutors obtained the bank details of unidentified Belgian clients with Credit Suisse accounts between 2003 and 2014, according to the paper. Officials received a large part of the data from French authorities last year, L’Echo said.
Credit Suisse “applies a strict zero tolerance policy and wishes to conduct business with clients who have paid their taxes and fully declared their assets,†the lender said in an emailed statement to Bloomberg News.
Swiss banks have been caught up in global tax crackdowns over the past decade as the country’s tradition of banking secrecy came under siege.
The Covid-19 pandemic delayed UBS Group AG’s appeal of a conviction and record 4.5 billion-euro ($5.3 billion) penalty for helping wealthy French clients stash undeclared funds in offshore accounts.