Credit Suisse to hand bank staff names to US

Credit Suisse is giving more staff names to the US Keystone

The Credit Suisse bank is to disclose the names of more of its staff to the United States authorities, who want to know who may have helped wealthy US citizens to evade taxes by moving their assets abroad.

This content was published on June 21, 2013 and agencies

The name transfer, which will be made on Monday, was revealed by the Swiss Handelszeitung newspaper and confirmed by the bank to the Swiss News Agency.

The decision comes after the Swiss parliament on Wednesday refused to approve a bill, strongly supported by the government, that would have allowed banks to sidestep laws on banking secrecy to cooperate with US authorities.

With the bill torpedoed, the government is looking for another way to enable banks to hand over information to the US .

Finance Minister Eveline Widmer-Schlumpf had previously said the government would consider issuing an executive order on Friday, but the chief government spokesman told journalists that the finance ministry will now present new proposals to the cabinet at its scheduled meeting on June 26 or, more likely, the week after.

If banks do not hand over the information demanded by the US tax authorities, they are likely to face criminal charges in the US. The authorities especially want the names of US citizens suspected of using secret accounts.

The spokesman said the ministry had informed the US Department of Justice of the situation.

In compliance with the JTI standards

In compliance with the JTI standards

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