The Swiss government has put a stop to some Credit Suisse banker bonuses after public backlash over the state-engineered rescue plan
Business InsiderAPR 2023
Credit Suisse's new leadership does not tolerate tax evasion and has been actively collaborating with US authorities to tackle any past wrongdoing or current concerns. Undeclared accounts are being shut down and any employee who fails to comply with the bank's standards of conduct will be disciplined.
Though Credit Suisse states that this report focuses on decade-old "legacy issues," the truth of the matter is that the now-troubled bank has disclosed nearly two dozen "potentially undeclared" accounts a full nine years after the plea agreement was put into place. As the Swiss bank's tax evasion scheme defrauding the US remains active, US authorities must take strong punitive action against Credit Suisse to discourage similar behavior elsewhere in the banking sector.