Italy Demands Information on Billions Held in Suspect Swiss Accounts

July 24, 2017, Insights


Financial crime investigators in Italy are requesting information to track down the owners of 6.7 billion Euros being held in Switzerland.  The request was made following an earlier probe into Credit Suisse activity.  In a statement issued last week, the Italian authorities asked for details on more than 10,000 accounts, and it has not yet been revealed if all accounts are related to Credit Suisse.  The Swiss Tax administration has not issued any comments related to the investigation.

Credit Suisse agreed to pay nearly 110 million Euros last year to settle an ongoing investigation of activities from 2008-2015.