Credit Suisse leak exposes bank's ties to torturers, money launderers
AxiosMAY 2022
Switzerland's banking secrecy laws, along with their exploitation by the world's elite to conceal their wealth, have been common knowledge for centuries. Though the government has claimed it no longer conducts these tax evasion schemes, last year's data leak and the recent banking secrecy law seem to prove otherwise. Hopefully, this case will see the days of monarchs and oligarchs stashing their dirty money in the Alps finally come to an end.
Most of the accounts uncovered in this leak have been or are in the process of being closed. This seemingly biased and coordinated attack against Credit Suisse fails to acknowledge that Switzerland has cooperated with 100 other countries under the Automatic Exchange of Information since 2017, an agreement the US isn't even a part of. Journalists and global NGOs should update their facts to reflect Switzerland and its banks' tremendous progress.