Page 4 - Banking Secrecy News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A $2 million punishment was levied on Credit Suisse on Monday in a money laundering case connected to a Bulgarian cocaine network. Credit Suisse is the second-largest bank in Switzerland and has been rocked by a number of scandals. The bank was found guilty of violating its corporate duty by the Swiss Federal Criminal Court for failing to take action to stop the criminal organisation from laundering money. Two million Swiss francs ($2.1 million) in fines were imposed on Credit Suisse. The bank, based in Zurich, plans to appeal.

An attempt to change Swiss banking secrecy laws to exempt whistleblowers and journalists was blocked by lawmakers.

The largest group in the European Parliament has called for a review of Switzerland’s banking practices after leaks of Credit Suisse documents.

The largest group in the European Parliament has called for a review of Switzerland’s banking practices after leaks of Credit Suisse documents.

Switzerland's second-largest bank Credit Suisse held billions of dollars of dirty money for decades, a new cross-border media investigation has claimed, based on a massive data leak from an anonymous source.