Credit Suisse and UBS are among a group of banks under investigation by the US Department of Justice (DOJ) for allegedly having helped some Russian oligarchs to evade financial sanctions.
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Le autorità statunitensi indagano su Credit Suisse e UBS per le sanzioni russe
According to a Bloomberg report, some Credit Suisse and UBS employees are under scrutiny by the DOJ for having possibly helped Russian oligarchs to avoid the sanctions that had been imposed on the country after the invasion of Ukraine.
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Swiss sanction 30 more individuals after Russian annexations
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The Swiss government has added 30 people and seven organisations to its blacklist after Russia annexed four regions of Ukraine.
The subpoena was sent to Credit Suisse before it was taken over by UBS, wrote Bloomberg on Thursday.
The two Swiss financial institutions are among a group of banks that has received subpoenas from the US authorities regarding the activity of some of their bankers. Some large US banks are under investigation too.
The DOJ has requested additional information from the banks to identify the bankers and financial advisors who helped sanctioned clients, and to determine how they had been screened in the past. These employees could be subject to further investigations for any violations of the law.
Credit Suisse had no comment on the report when approached by the Swiss News Agency Keystone-SDA. UBS could not be reached for comment.
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Swiss government refuses to confiscate Russian assets
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The Swiss government says the confiscation of private Russian assets would undermine the Swiss constitution.
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Credit Suisse agrees to CHF3bn takeover by rival Swiss bank UBS
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