Revealed: Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians

[Nevilledog]

Last edited Sun Feb 20, 2022, 04:52 PM - Edit history (1)

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https://www.theguardian.com/news/2022/feb/20/credit-suisse-secrets-leak-unmasks-criminals-fraudsters-corrupt-politicians

A massive leak from one of the world’s biggest private banks, Credit Suisse, has exposed the hidden wealth of clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.

Details of accounts linked to 30,000 Credit Suisse clients all over the world are contained in the leak, which unmasks the beneficiaries of more than 100bn Swiss francs (£80bn)* held in one of Switzerland’s best-known financial institutions.

The leak points to widespread failures of due diligence by Credit Suisse, despite repeated pledges over decades to weed out dubious clients and illicit funds. The Guardian is part of a consortium of media outlets given exclusive access to the data.

We can reveal how Credit Suisse repeatedly either opened or maintained bank accounts for a panoramic array of high-risk clients across the world.

They include a human trafficker in the Philippines, a Hong Kong stock exchange boss jailed for bribery, a billionaire who ordered the murder of his Lebanese pop star girlfriend and executives who looted Venezuela’s state oil company, as well as corrupt politicians from Egypt to Ukraine.

*snip*

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Tweet text:

Organized Crime and Corruption Reporting Project
@OCCRP
BREAKING: Leaked bank records show how Credit Suisse helped dictators, corrupt politicians, spies, and criminals hide their illicit fortunes.

This is #SuisseSecrets, one of the world’s largest investigations into the world of Swiss banking 🇨🇭

occrp.org
Historic Leak of Swiss Banking Records Reveals Unsavory Clients - OCCRP
Despite two decades of pledges by Credit Suisse to crack down on illegitimate funds, data leaked from the bank reveals that it catered to dozens of criminals, dictators, intelligence officials, san...
10:01 AM · Feb 20, 2022

https://www.occrp.org/en/suisse-secrets/historic-leak-of-swiss-banking-records-reveals-unsavory-clients

A Yemeni spy chief implicated in torture. The sons of an Azerbaijani strongman who rules a mountainous territory as his own private fiefdom. Bureaucrats accused of looting Venezuela’s oil wealth and hastening its descent into humanitarian crisis.

They come from all over the world, each associated with a different corrupt, authoritarian regime and each enriching themselves in their own way. But there is one thing that unites them: Where they kept their money.

After its luxury watches, snow-capped mountains, and superior chocolates, the Alpine nation of Switzerland is perhaps known best for its secretive banking sector. And at the heart of that sector is Credit Suisse, which over its 166-year history has become one of the world’s most important financial institutions.

With nearly 50,000 employees and 1.5 trillion Swiss francs in assets under management for 1.5 million clients, this banking behemoth is still just the second-largest bank in Switzerland, a testament to how central the banking sector is to this wealthy and comfortable nation.

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[cbabe]

1. Love it when the curtain is pulled back.

[Nevilledog]

2. Kick for Guardian article

[pecosbob]

3. Oops

[RANDYWILDMAN]

4. Banks committing crimes, I'm concerned