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US Reportedly Probing Whether Credit Suisse, UBS Aided Russia to Evade Sanctions

© AFP 2023 / FABRICE COFFRINIA sign of Credit Suisse is seen behind a clock at the headquarters of Switzerland's second-biggest bank in Zurich on March 18, 2023.
A sign of Credit Suisse is seen behind a clock at the headquarters of Switzerland's second-biggest bank in Zurich on March 18, 2023.  - Sputnik International, 1920, 23.03.2023
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WASHINGTON (Sputnik) - The US Justice Department is reportedly investigating whether Credit Suisse, UBS and other banks helped Russian businessmen evade the United States-imposed sanctions against Russia.
US media said the investigation began before UBS proposed to take over Credit Suisse, which was on the verge of collapsing.
The Justice Department also reportedly issued subpoenas to employees of several major US banks. Insiders have stated that the department is focused on uncovering which bank employees dealt with sanctioned clients and how these clients were vetted over the last several years.
The Justice Department may deepen its investigation if it finds the bankers broke any laws.
UBS - Sputnik International, 1920, 20.03.2023
What Happened to Credit Suisse and Why is UBS Buying It?
Credit Suisse declined to comment on the matter and UBS did not respond to a request for comment, the report said.
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