Finance and economics mentoring
New Horizons Paraguay
Ticker tape by TradingView

Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians

Status
Not open for further replies.
Martin Everson

Martin Everson

OffshoreCorpTalk moderator
Jan 2, 2018
11,929
-1
811
Oh dear.

----- quote start
  • Massive leak reveals secret owners of £80bn held in Swiss bank
  • Whistleblower leaked bank's data to expose ”˜immoral' secrecy laws
  • Clients included human trafficker and billionaire who ordered girlfriend's murder
  • Vatican-owned account used to spend €350m in allegedly fraudulent investment
A massive leak from one of the world's biggest private banks, Credit Suisse, has exposed the hidden wealth of clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.

Details of accounts linked to 30,000 Credit Suisse clients all over the world are contained in the leak, which unmasks the beneficiaries of more than 100bn Swiss francs (£80bn)* held in one of Switzerland's best-known financial institutions.

The leak points to widespread failures of due diligence by Credit Suisse, despite repeated pledges over decades to weed out dubious clients and illicit funds. The Guardian is part of a consortium of media outlets given exclusive access to the data.

We can reveal how Credit Suisse repeatedly either opened or maintained bank accounts for a panoramic array of high-risk clients across the world.

------ quote end

https://www.theguardian.com/news/20...asks-criminals-fraudsters-corrupt-politicians

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
Money is used (also) to do bad/illegal/immoral things! What a news!
The real meaning of this article is that banks happily partner with criminals big enough to be worth the hassle. They are perfectly useless as a “filter” to block illegal activities, at the contrary they facilitate them.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 
WoW what a breaking news. The entire financial system smells bad.
what are these people. It shows the picture‍ very clear. The small man on the floor is left with nothing anymore while the⁠ one that are stuffed with billions rule the world gre¤#!
 
The leak is probably due to the fact that they have gotten into bad standing‌ by one percent!
 
Does not look like they have done anything HSBC didn't do. What do CS do‌ to keep pissing off the feds?

AAAh, maybe this is what it is all about:‍ "Swiss legislators are responsible for enabling financial crimes and – by virtue of their direct⁠ democracy"
 
If you do the historical research, you will see that UBS and Credit Suisse were‌ responsible for wrecking the Swiss bank secrecy laws through their reckless conduct. If the Swiss‍ government was smart, they would have broken up these two banks and forbade any other⁠ Swiss banks from using the Western banking model.

If Swiss banks had stuck with the⁤ low-profile Swiss banking model, then secrecy would likely still be in place. The U.S. needed⁣ high profile, illegal conduct to take down traditional Swiss bank secrecy -- and UBS and⁢ Credit Suisse handed it to them on a silver platter. This is simply another idiotic︀ example.

There is a reason that Credit Suisse stock has cratered from nearly $75 to︁ less than $9 per share over the past fifteen years. In fact, I was looking︂ at the stock just last week because it is now so low that it might︃ expose the bank to a hostile takeover. I can only imagine how much further its︄ stock might sink as the result of this fiasco. Only time will tell. It is︅ a filthy organization -- and the polar opposite of traditional Swiss banking operations.

If the︆ Swiss government was smart, it should step in, bust up the bank, and prosecute those︇ responsible. This is from a news article just last week, before this most recent scandal︈ emerged:

https://www.newsmax.com/finance/str...=DM304413_02192022&s=acs&dkt_nbr=0105022jd2py
 
100% agree. I personally feel with so much scandal Credit Suisse should be‍ broken up and its name consigned to history. It's investment banking assets and clean private⁠ banking assets can be sold to plenty of other wiling banks.

The name Credit Suisse⁤ is now synonymous with crime. If I could speak to CEO of the bank my⁣ first question would be - how does it feel to be the head of a⁢ criminal organization?

Ok time to︀ move my assets rather than wait and see eek¤%&.
 
what a tragedy...⁠
every single bank in the world has accounts used by criminals

how does US government⁤ or FED feel knowing that US dollar is used around the world by criminals for⁣ the worst of the worst purposes?
 
That is bad logic. You hold the bad actors accountable, not tangible things. If someone⁠ commits a crime with a motor vehicle, you punish the criminal. You do not outlaw⁤ motor vehicles. If a bank commits a crime using U.S. dollars, you punish the bank⁣ (and the other criminals responsible). The crime has nothing to do with the underlying currency.⁢

The Swiss government should have taken action against Credit Suisse long ago. CS has been︀ a bad actor for a long time. And yes, one of the reasons that this︁ company has been an ongoing problem is that it acts too much like banks in︂ other Western nations. The Swiss know how to do banking right. They should have undertaken︃ appropriate self-enforcement actions against CS and UBS to protect their own banking industry. If they︄ had, Swiss banking privacy would likely still exist today (at least in some form). Instead,︅ you have this:

https://www.reuters.com/business/fi...g-switzerland-after-credit-suisse-2022-02-21/
 
clearly manipulated to make it more difficult for people trying to secure their money from‌ EU
 
I was responding to this... nothing else

baker is not (usually?) feeling bad about selling the bread to a criminal... why︁ should bank (or the CEO) feel bad about the fact that criminals are using their︂ account
 
It is not a fairy tale, but based on⁤ over 150 years of history. Yes, the Swiss are not necessarily better than anyone else⁣ at banking -- today. But that is a relatively recent development, because UBS and⁢ Credit Suisse destroyed the Swiss banking system. Their criminality was the leverage that the U.S.︀ and the EU required to force the Swiss government to finally capitulate to their demands︁ to end bank privacy.

It is one thing to threaten to cut off a small︂ country from the SWIFT system just for operating the way it had over 150 years,︃ by respecting bank clients' privacy. It is quite another matter to threaten to cut off︄ a small country from the SWIFT system because it allowed systemic criminal activity by its︅ two largest banks. This is all historical fact. UBS and Credit Suisse caused the end︆ of traditional, privacy-oriented Swiss banking.

Again, you are using poor︉ logic and a bad analogy. A bank that knowingly allows money laundering is no different︊ than a baker who knowingly allows his business to launder mafia money. Both are legally︋ culpable.
 
Golden Fleece said:
Golden Fleece said:
It is not a fairy tale, but based on over 150 years of history. Yes, the Swiss are not necessarily better than anyone else at banking -- today. But that is a relatively recent development, because UBS and Credit Suisse destroyed the Swiss banking system. Their criminality was the leverage that the U.S. and the EU required to force the Swiss government to finally capitulate to their demands to end bank privacy.

It is one thing to threaten to cut off a small country from the SWIFT system just for operating the way it had over 150 years, by respecting bank clients' privacy. It is quite another matter to threaten to cut off a small country from the SWIFT system because it allowed systemic criminal activity by its two largest banks. This is all historical fact. UBS and Credit Suisse caused the end of traditional, privacy-oriented Swiss banking.
Click to expand...
Click to expand...
The “tradition” started only in the 1930s, for a series of political reasons. Jews as well as Nazis benefited from it.
We are in 2022 and the banking system is a thing of the past, like horse carriages were in 1910 compared to cars.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

Forums

User Menu

Login
Community platform by JohnnyDoe © 2025 JohnnyDoe
Top Bottom