Credit Suisse has spoken out against allegations of due diligence failures after the details of 18,000 accounts connected to 30,000 clients was exposed. The data trove was shared by an anonymous whistleblower, who reached out to several different media outlets. The anonymous reporter left a message claiming that the company’s secrecy laws were immoral and that the company did not protect its customers’ privacy enough. In addition, the reports allege that Credit Suisse opened and maintained accounts for high-risk clients such as dictators, corrupt politicians, and one human trafficker.
Other reports claim that Credit Suisse accounts were used to launder money, especially from developing countries. One account allegedly invested hundreds of millions in a fraudulent London property at the center of a criminal trial. Earlier this week Credit Suisse released their own statement claiming that most of the allegations are false or based on partial, inaccurate, or selective information. The bank described the allegations as an effort to discredit the bank and the Swiss banking system.
Read More: Banking World Rocked After Leak Exposes 18,000 Credit Suisse Accounts
