The Presidential Daily Brief

Important

  1. Report Accuses Credit Suisse of Helping U.S. Tax Evaders

    The Swiss bank is being accused of helping more than 22,000 U.S. customers hide their Swiss accounts to avoid paying billions in taxes. The U.S. congressional committee report alleges that the bankers helped customers set up offshore shell entities and helped with transactions meant to avoid detection. While Credit Suisse declined to comment, it is not alone in the firing line: U.S. officials are pointing fingers at 14 Swiss banking institutions for allegedly helping tax cheats. The committee is encouraging tough action against the banks, and the U.S. Department of Justice is looking into the claims.

    Source: BBC

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