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Credit Suisse once again finds itself at the epicenter of another scandal after confidential information from more than 18,000 of its accounts were leaked, the largest ever for a major Swiss bank.

Led by Germany’s Süddeutsche Zeitung, the Organized Crime and Corruption Reporting Project (OCCRP) unveiled on Sunday the Suisse Secrets report: a litany of unethical though not necessarily strictly illegal business dealings with international drug lords and corrupt regime officials that hid money stolen from their country.

While Credit Suiss was the target of the leak, the anonymous whistleblower that fed the German paper with data over a year long argued their motivation was broader: the country’s secrecy rules themselves were immoral. And the main victims were the poor living in countries that lack the infrastructure to tackle financial crime.

Put in place to protect financial privacy, these rules were really “a fig leaf meant to conceal the shameful roles of Swiss banks as collaborators in tax evasion,” the individual wrote. “I would like to emphasize that responsibility for this situation does not rest with the banks but rather the Swiss legal system.”

Anti-corruption advocacy group Transparency International said the leaked documents confirmed Credit Suisse had offered banking services for years to high-risk clients despite significant red...

Read Full Story: https://fortune.com/2022/02/21/credit-suisse-whistleblower-claims-deals-drug-...