Probe puts Swiss bank back in Justice Department’s crosshairs after $2.6 billion settlement two years ago over American customers’ taxes
- authorities are investigating Credit Suisse Group AG’s operations in Israel, people familiar with the matter said, once again placing the Swiss bank under Justice Department scrutiny related to its handling of American clients.
The Justice Department recently notified Zurich-based Credit Suisse of the investigation, which is focused on determining whether employees in Israel helped dual Israeli and U.S. citizens conceal their U.S. status to evade American taxes, the people said.
Information about foreign banks’ clients who are identified as American must now be automatically transmitted to U.S. tax authorities, under the recently-implemented U.S. Foreign Account Tax Compliance Act.
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