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Swiss banks – XtremeCuztoms

Tag: Swiss banks

Credit Suisse Taken Down by Endless Stream of Scandals

March 21, 2023
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The collapse of Credit Suisse, the Swiss banking giant that ended its 167-year history on Monday morning in a state-sponsored takeover by rival bank UBS, was not the result of mismanaging liquidity or interest rate risk like Silicon Valley Bank, but rather death by a thousand self-inflicted cuts. The past decade featured an endless parade…

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Court Finds Credit Suisse Guilty of Facilitating Money Laundering Tied to Cocaine Ring

June 28, 2022
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Swiss bank Credit Suisse was found guilty by the country’s Federal Criminal Court on June 27 for failing to prevent money laundering by a Bulgarian cocaine trafficking gang in the first such criminal trial Switzerland has seen against one of its major banks. The case involved millions of euros in bank deposits made by the…

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