Credit Suisse Denies Allegations of Illegal Business Activities

New Delhi: Credit Suisse, one of the most reputed Swiss Banks in the world have hit the headlines as it failed to protect data of more than 18,000 bank accounts.

The news of this data leak created panic all over the world and the names of many prominent people of the world were revealed in this data leak. According to reports, an informer leaked information on more than 18,000 bank accounts, in which a total amount of $100 billion was deposited.

The reports further claimed that the data leak revealed that Credit Suisse had accumulated hundred million of dollars from heads of state, intelligence officials, businessmen and human rights abusers, among others involved in serious criminal activities. However, Credit Suisse has denied this data leak. According to them, Credit Suisse says nothing has gone wrong with it.

Who Leaked Information?

According to reports, it is believed that an informer leaked these account related information of 18,000 bank accounts of Credit Suisse to the German newspaper Süddeutsche Zeitung. The newspaper has since shared information about these accounts with 46 other media organizations, including the Organized Crime and Corruption Reporting Project, a non-profit journalism group.

These Names Came Up

Accounts whose information has been leaked include personal, joint and corporate accounts. These accounts were open between the late 1940s and early 2010s. From this data, it has been found that those people who were involved in serious criminal activities also had bank accounts with Credit Suisse. These include money laundering and drug smuggling.

According to reports, two sons of Jordan's King Abdullah II and former Egyptian President Hosni Mubarak also had accounts in Credit Suisse. A similar account was that of the son of a Pakistani intelligence chief, who in the 1980s funded the Mujahideen in Afghanistan from the US and other countries with billions of dollars.

However, Credit Suisse has denied any data leak through its official statement, where it has vehemently denied the allegations of illegal business activities.

"The cases presented are primarily historical, with some cases dating back to the 1940s and the accounts of these cases are based on selective information that is partly, incorrect or taken out of context," the bank added.

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