Feb 23, 2017

Credit Suisse investigated for aiding tax evasion yet again

Peter Klaunzer/AP

The Justice Department is investigating Swiss bank Credit Suisse for helping U.S. citizens hide money abroad from tax authorities, according to sources cited by the Wall Street Journal. This comes less than 3 years after the bank plead guilty to similar crimes.

Why it matters: Because Credit Suisse pleaded guilty instead of coming to a settlement in which no wrongdoing was admitted, a second run in with the law could come with even higher penalties than $2.6 billion in fines levied against it in 2014.

Go deeper