Another massive data leak has revealed a lack of due diligence by one of the world’s largest private banks
Since 2016, successive data leaks have exposed the methods by which some of the world’s most powerful companies and individuals secrete eye-watering sums of money off-shore, beyond the reach of tax authorities and governments. Collaboratively reported by investigative journalists from around the world, the Panama, Pandora and Paradise Papers have held the dark practices and financial chicanery practised by the super-rich up to the light.
This week the Guardian, along with 47 international partners including the Süddeutsche Zeitung and Le Monde, has published the latest addition to this crucial body of work. Also the result of a vast data drop by a whistleblower, the “Suisse secrets” revelations focus on the activities of Credit Suisse, one of the world’s biggest private banks and a traditional giant in Switzerland’s notoriously opaque financial system. Analysis of accounts linked to 30,000 Credit Suisse clients from all over the world suggests that, in multiple cases, a culture of complicity on the part of Credit Suisse has allowed huge sums of dubious provenance to be stashed away with far too few questions asked.
