Credit Suisse has agreed to pay £234m in France to settle a tax evasion and money laundering probe
Credit Suisse has agreed to pay £234m in France to settle a tax evasion and money laundering probe. It is alleged the troubled Swiss bank urged wealthy French clients to move their assets to Switzerland.
Credit Suisse was accused by French authorities of encouraging rich customers in France to set up bank accounts in Switzerland between 2005 and 2012, which were then out of reach of the French taxman.
Credit Suisse will make a strategy announcement this week aimed at putting an end to years of scandals and losses that have eroded confidence. Last week, it agreed to pay £438m to resolve a case related to its sale of residential mortgage-backed securities.
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