The Dark Side of Credit Suisse Bank #viralvideo #suisse #suissebank
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“In 2014, Credit Suisse was fined $2.6 billion by US authorities for helping Americans evade taxes.” (Source: Reuters, “Credit Suisse to pay $2.6 billion to end U.S. tax probe,” May 19, 2014)
“In 2019, Credit Suisse was again in the news for its involvement in a massive corruption scandal in Mozambique.” (Source: The New York Times, “Credit Suisse Is Accused of Fraud in Mozambique Loan Scandal,” July 23, 2019)
“The bank has also been accused of facilitating money laundering, violating sanctions, and manipulating currency markets.” (Sources: The Wall Street Journal, “Credit Suisse to Pay $536 Million Over Iran Violations,” Dec. 22, 2016; The Financial Times, “Credit Suisse fined $135m over forex trading abuse,” Nov. 14, 2018)
“The bank’s handling of the Archegos Capital Management debacle in 2021 further eroded its reputation.” (Sources: Bloomberg, “Credit Suisse to Cut Hedge Fund Lending by a Third After Archegos,” June 1, 2021; CNN, “Credit Suisse takes $4.7 billion hit from Archegos and Greensill scandals,” April 22, 2021)
“The Mozambique scandal was just one of many controversies that have dogged Credit Suisse in recent years.” (Source: The Guardian, “Credit Suisse faces new Mozambique debt claim as scrutiny mounts,” June 14, 2021)
“It remains to be seen how Credit Suisse will address these issues and rebuild trust with its clients and stakeholders.” (Source: Swiss Financial Market Supervisory Authority, “FINMA concludes enforcement proceedings against Credit Suisse,” Nov. 5, 2020)
Credit Suisse, banking, scandals, corruption, Mozambique, Archegos, regulation, oversight, risk management, investigations, finances, investing, wealth management, offshore accounts, tax evasion, money laundering, sanctions violations, fines, legal issues, reputational damage, compliance failures, fraud, Ponzi schemes, insider trading, customer mistreatment, executive misconduct, whistleblower allegations, ethical lapses, SEC investigations, DOJ investigations, regulatory penalties, investor lawsuits, management shakeups
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