Leaked Data of Swiss Bank Credit Suisse Reveals Clients Accused of Money Laundering

The leaked data of Swiss bank Credit Suisse reveals that Suisse held accounts worth $100 billion or more for sanctioned persons and leaders of state accused of money laundering. As reported on February 20 by The New York Times, the data leak consisted of more than 18,000 bank accounts. This data dates back to accounts opened during the 1940s through 2010s, however not actively operated presently. Amongst the account holders were King Abdullah II of Jordan and Nervis Villalobos, former Venezuela’s vice-minister of energy. King Abdullah II has been accused of embezzling financial aid for his own gain, while Nervis pled guilty to money laundering in 2018. Other sanctioned persons also have ‘millions of dollars in Credit Suisse.’ “Other account holders included sons of a Pakistani intelligence chief who helped funnel billions of dollars from the US and other countries to the Mujahideen in Afghanistan in the 1980s,” mentioned the New York Times. The lead developed at Yearn Finance (YFI), Banteg tweeted today, Credit Suisse AML happily hosted human traffickers, murderers, and corrupt officialshttps://t.co/5Fd0DGUnTS — banteg (@bantg) February 20, 2022 Although there are laws enforced to prohibit Swiss banks from accepting deposits from criminals (frauds), the country’s famed bank secrecy laws create a large loophole. According to the New York Times, due to this very reason, Switzerland has attracted criminals to conduct internationa...