Credit Suisse denies wrongdoing after client data leaked to media -Breaking
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© Reuters. FILEPHOTO: A branch of Swiss bank Credit Suisse, Zurich, Switzerland is seen with the logo, on November 3, 2021. REUTERS/Arnd WIegmann2/2
VIENNA, (Reuters) – Credit Suisse (SIX) stated on Sunday that it strongly rejects allegations of wrongdoing following a series of media reports revealing results from coordinated Panama Papers-style investigation into the leak of data from thousands of accounts there over previous decades.
The information on accounts that date back to 1940s through 2010s was leaked by one person. It was shared with Germany’s Sueddeutsche Zeitung and 46 other news organizations, including Le Monde, Guardian of Britain and Guardian of Britain.
Media articles claimed that among its clients, the bank employed human rights abusers as well as businessmen who were subject to sanctions.
Credit Suisse stated in a response to consortium reports that it strongly rejected the claims and insinuations regarding the bank’s business practices.
“The issues presented are predominately historical… the accounts of those matters are based primarily on partial, incorrect, or selective data taken out of context. These results have led to tendentious interpretations regarding the bank’s business conduct.”
The bank stated that it has received many inquiries from the consortium during the past three week and had reviewed many of these accounts.
It stated that approximately 90% of reviewed accounts were either closed today or in process of closing prior to receiving the press inquires. More than 60% of these closed before 2015.
We are satisfied that the appropriate controls were followed in accordance with our existing framework for all accounts remaining. “We will continue to review the matter and, if required, take further steps.”
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