Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country
AEOI Chief Mohammad Eslami: We witnessed new, stricter stances from European countries since signing new agreement with IAEA
Saree: Our UAV force targeted the so-called Ramon Airport in the Umm al-Rashrash area in southern occupied Palestine
YAF spokesperson Brigadier General Yahya Saree: Our rocket force carried out an operation with a Palestine 2 hypersonic ballistic missile targeting a sensitive target in the occupied Yafa area
Trump administration clears first Ukraine arms aid package paid for by allies: Reuters, citing sources
Saudi Crown Prince Mohammad bin Salman receives Secretary of Iran's Supreme National Security Council Ali Larijani at his office in Al-Yamamah Palace
Wakim: Surrender is not in our dictionary, and it is not true that "Israel" can implement its project in Lebanon and the region
Wakim: The US is preventing the armament of the Lebanese army. The question is, why are the weapons it is handed over by the Resistance being destroyed?
Wakim: The Resistance is required to hand over its weapons to the [current] authority. The question is: Is this authority independent or subservient to America?

Credit Suisse exposed over 30,000 bank clients details leak

  • By Al Mayadeen Net
  • Source: Agencies
  • 21 Feb 2022 09:35
4 Min Read

Switzerland's second-largest bank failed to crack down on illicit funds coming from accounts held by dictators, criminals, and corrupt politicians, according to a global media investigation.

  • x
  • Leak exposes details of over 30,000 Credit Suisse bank clients
    Leak exposes details of over 30,000 Credit Suisse bank clients.

A data leak from Credit Suisse, Switzerland's second-largest bank, revealed details of more than 30,000 accounts – some of them unpleasant – according to a German newspaper and other media on Sunday, pointing to apparent failures of due diligence in checks on many customers.

Credit Suisse said in a statement that it “strongly rejects the allegations and insinuations about the bank’s purported business practices.”

Sueddeutsche Zeitung, a German newspaper, said it acquired the data anonymously over a year ago through a secure digital mailbox. It stated that it was unclear whether the source was an individual or a group, and that no money or promises were made by the newspaper.

The newspaper said it analyzed the data alongside the Organized Crime and Corruption Reporting Project and dozens of media partners, including The New York Times and The Guardian, from the 1940s until well into the last decade.

According to the report, the bank has accepted customers who are "corrupt autocrats, suspected war criminals, and human traffickers, drug dealers, and other criminals."

Credit Suisse stated that the claims are "mostly historical" and "are based on fragmentary, erroneous, or selective material taken out of context, leading in tendentious interpretations of the bank's business activity."

What did the Suisse Secrets probe reveal?

A human trafficker convicted in the Philippines, a Hong Kong stock exchange chairman imprisoned for bribery, and an Egyptian billionaire who ordered the assassination of his Lebanese pop star girlfriend are among those exposed.

According to the media sites, other clientele includes multiple leaders of state and government, ministers, intelligence officials, as well as oligarchs and businesses with shady backgrounds.

Related News

Spain, Switzerland, India reconsider F-35 purchases amid US tariffs

Sudan’s al-Burhan meets Trump’s Africa advisor in Switzerland: Sources

A former Siemens manager was listed as having six accounts after being convicted of bribery in 2008.

One of the former Siemens executives' accounts had assets worth more than 54 million Swiss francs (about €51.66 million) in 2006, according to the publication, which cannot be attributed to his Siemens income.

The revelation also discloses the hidden accounts of Jordan's King Abdullah II, Iraq's former Deputy Prime Minister Ayad Allawi, Algerian ex-President Abdelaziz Bouteflika, and Armenia's ex-President Armen Sarkissian's.

Money laundering

Earlier, Credit Suisse was accused in a Swiss court of allowing a suspected Bulgarian cocaine trafficking ring to launder millions of euros, some of which were hidden in suitcases.

Swiss prosecutors are seeking around 42.4 million Swiss francs ($45.86 million) in compensation from Credit Suisse in the first criminal trial of a major bank in Switzerland (CSGN.S).

They claim that between 2004 and 2008, the country's second-largest bank and one of its former relationship managers failed to take all necessary steps to prevent alleged drug traffickers from hiding and laundering cash.

Was anyone probed? 

The leak reveals Credit Suisse's pervasive inability to conduct due diligence in analyzing and rejecting questionable clients and those managing illegal funds.

OCCRP wrote on its website that reporters spoke with several former bank employees who described a "highly toxic corporate culture that incentivized taking on risk to maximize profits — and bonuses."

Former employees claimed that this resulted in a culture where there were two sets of rules for two types of clients: the wealthy and the ultra-wealthy.

Swiss banking secrecy is "immoral", according to the whistleblower, whose identity is undisclosed to the media partners.

"The pretense of protecting financial privacy is just a fig leaf to cover up the shameful role of Swiss banks as collaborators with tax evaders," the whistleblower said.

  • Switzerland
  • Credit Suisse

Most Read

Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Britain Trained Israeli Soldiers Involved in Gaza War: Declassified
Europe

UK training of Israeli officers sparks outcry over Gaza war complicity

Luxembourg's Prime Minister Luc Frieden arrives for an EU summit at the European Council building in Brussels, Thursday, June 26, 2025. (AP Photo/Omar Havana)
Politics

Luxembourg to recognize Palestine at UN summit next week

European Union flags flap in the wind outside EU headquarters in Brussels, Wednesday, Sept. 3, 2025 (AP)
Politics

EU exec. branch to adopt new sanctions against 'Israel' on Wednesday

Charlie Kirk killing suspect faces charges in Utah court hearing
US & Canada

Charlie Kirk murder suspect faces formal charges in Utah court hearing

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS