Credit Suisse handing over data on 130 US clients

14 Nov, 2011

Credit Suisse is handing over details of around 130 US clients with hidden Swiss accounts as part of a US investigation into tax evasion, a newspaper reported on Sunday. The bank said this week it was complying with a request from the Swiss government for account information after US authorities requested help in catching Americans suspected of tax fraud, but it did not say how many clients were involved.
Citing an unnamed source, the SonntagsZeitung said the request involved around 130 clients.
A Credit Suisse spokesman declined to comment.
Earlier this month, Credit Suisse took a 295 million Swiss franc provision against third-quarter earnings in connection with the US probe. It said the final settlement might exceed the current provision.
US authorities, which suspect tens of thousands of Americans have used secret Swiss accounts to evade billions of dollars in taxes, have been conducting a widening criminal investigation into scores of Swiss banks, including Credit Suisse.

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