Credit Suisse Group AG managed accounts for clients involved in human rights abuses, corruption and drug trafficking, according to newspaper reports based on leaked data on more than 18,000 accounts that together held more than $100 billion.
An anonymous whistleblower gave the information to German newspaper Sueddeutsche Zeitung, which shared the data with a nonprofit journalism group and dozens of other news organizations worldwide. The data covers accounts opened from the 1940s until well into the last decade, The New York Times said Sunday. The Guardian said some of the accounts remain open.
Credit Suisse issued a statement soon after the stories were published, saying it “strongly rejects the allegations and insinuations about the bank’s purposed business practices.” It said the information is “based on partial, inaccurate, or selective information taken out of context, resulting in tendentious interpretations of the bank’s business conduct.”
