ZURICH (Reuters) - Credit Suisse CSGN.VX has handed data to U.S. officials as part of an ongoing crackdown of hidden Swiss offshore accounts, the Swiss bank’s chief executive Brady Dougan will tell shareholders on Friday.
“With regard to this issue, we have delivered data as directed by the Swiss government. According to the recent decision of the Swiss Federal Council, we provided the U.S. authorities directly with information,” Dougan said, according to prepared remarks seen by Reuters.
Credit Suisse is one of roughly a dozen Swiss banks being investigated by U.S. officials for helping wealthy Americans dodge taxes by funneling money through offshore accounts.
The bank and the Swiss government are in talks with U.S. justice and tax officials to reach a settlement.
Strict Swiss bank secrecy laws prevent Credit Suisse from handing over client data, and Dougan did not disclose the nature of information handed over.
“We continue to cooperate with authorities, both in the U.S. and Switzerland, to resolve this matter in a responsible manner that complies with our legal obligations,” Dougan said.
Reporting By Katharina Bart; Editing by Dan Lalor