Credit Suisse Denies Wrongdoing after Leaks Reveal Alleged Criminal Ties

    Image copyright: Arnd Wiegmann/Reuters [via Al Jazeera]

    The Facts

    • 70 years worth of data has been leaked from Credit Suisse, one of the world's largest private banks, exposing more than $100B in hidden wealth.

    • The bank allegedly held more than $8B in accounts linked to criminals, dictators, human rights abusers and businessmen placed under sanctions.

    The Spin

    Narrative A

    The data indicate that banking regulations in Switzerland, the US, the UK and other nations are in desperate need of reform. Credit Suisse has been facilitating money laundering and promoting crime, allowing the morally bankrupt to steal from the poor.

    Narrative B

    Accounts being reported have been based on partial, selective information taken out of context. The matters are predominantly historical, dating back as far as the 1960s. Credit Suisse have addressed any issues in line with financial reforms made in the last decade.

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