Credit Suisse suspends data regarding Nazi accounts

(MENAFN) Credit Suisse, one of Switzerland's largest banks, has been accused of withholding key information about its connections to the Nazis, according to an ongoing US Senate Budget Committee inquiry, as reported by the Wall Street Journal. Past investigations in the 1990s failed to fully uncover the scale of the bank's cooperation with the Third Reich. The current probe has uncovered a trove of client files labeled ‘American blacklist,’ which pertain to individuals and entities financing or trading with Nazis or their Axis partners.

The Senate investigation, led by Neil Barofsky, has revealed previously unknown connections between Credit Suisse and Nazi atrocities. This includes an account controlled by SS officers and a Swiss intermediary, used to promote the economic policies of the Third Reich, such as confiscating Jewish-owned businesses and benefiting from forced labor at concentration camps. Barofsky’s team suggests that Credit Suisse may have covered up its Nazi links by only disclosing information when specifically requested and withholding additional details.

The investigation is ongoing, with a final report expected in early 2026. Previous audits in the 1990s led to a $1.25 billion restitution payment to Holocaust victims, and in 2023, UBS acquired Credit Suisse to prevent its collapse.

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