Global RiskNews Briefs

Investigation claims Credit Suisse handled dirty money

An international media investigation due to a large data leak from Credit Suisse revealed the handling of billions of dollars of dirty money at Switzerland’s second-largest bank. The bank held over $8 billion dollars in accounts of criminals, dictators, human rights abusers and businessmen under sanctions according to the investigation published Sunday. 

Credit Suisse rejected the accusations from the investigation, claiming many of the issues were 70 years or more in the past. Shares in the bank were lower 1.8% in premarket activity. A non-profit journalism group the Organized Crime and Corruption Reporting Project said the investigation began over a year ago when bank data was shared with German newspaper Süddeutsche Zeitung. The data covers accounts that are collectively worth $100 billion and were investigated by over 48 media outlets around the world. Accounts that were problematic held over $8billion in assets. About 90% of the accounts reviewed were closed or were in the process of being closed before the press was involved.

Read more: Investigation claims Credit Suisse handled dirty money

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.