Swiss bank UBS said it was working with an independent ombudsman to shed light on the situation. accounts associated with Nazismafter the newspaper Wall Street Journal reported that some accounts at the failed Credit Suisse bank, which UBS bought in 2023, were not disclosed in previous investigations.
He Magazine cited the Ombudsman’s December 2024 letter to the U.S. Senate, which said the investigation found a set of client files marked as “American Blacklist” designation for those dealing with Nazi-linked organizations and had revealed signs of a cover-up in previous inspections.
UBS said it was working with an independent ombudsman. Neil Barofsky a former U.S. attorney who was previously hired by Credit Suisse to investigate the case to lead a review aimed at eliminating the legacy of Nazi-linked accounts held at Credit Suisse’s predecessor banks.
Photo: Reuters Archive. Treatment: AN
“UBS is committed to “promote a full accounting of outdated accounts associated with Nazism” This is stated in the bank’s message. “Since we acquired Credit Suisse (…), we have made it a priority to ensure our due diligence is thorough and complete.”
Barofsky told the Senate that his team of investigators plans to publish a final report around early 2026, added a report on Magazine.
Credit Suisse launched an investigation following allegations made in 2020 Simon Wiesenthal CenterJewish rights organization that teaches Holocaust lessons that the bank had possible accounts linked to Nazism and did not disclose them.
(Reuters)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
