Credit Suisse rejects allegations, says reports corresponds to historical accounts

Credit Suisse rejects allegations, says reports corresponds to historical accounts

Vienna - Credit Suisse said it "strongly rejects" accusations of misconduct in a statement issued on Sunday night in response to reports. Dozens of media outlets published results of Panama Papers-style investigations into a leak of data on thousands of accounts held at the bank in past decades.

One person leaked the information on the accounts, which were held in decades ranging from the 1940s to 2010s, to Germany's Sueddeutsche Zeitung. The German daily shared it with the Organized Crime and Corruption Reporting Project and 46 other news organisations including the New York Times, Britain's Guardian and France's Le Monde reported Reuters.

Among the allegations were accusations that the bank's clients included human rights abusers and businessmen who had been placed under sanctions.

The New York Times said the leaked data covered more than 18,000 accounts, holding more than $100 billion.

"Approximately 90% of the reviewed accounts are today closed or were in the process of closure prior to receipt of the press inquiries, of which over 60% were closed before 2015," the bank has said.

"Of the remaining active accounts, we are comfortable that appropriate due diligence, reviews and other control-related steps were taken in line with our current framework. We will continue to analyze the matters and take additional steps if necessary."
-Reuters

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