Credit Suisse: Names of Italian accountholders demanded by the Italian authorities

By in

Switzerland have now been asked by Milan based investigators to release the names of Italian residents who currently have undeclared bank accounts at Credit Suisse. The demand for administrative help involves up to 10,000 bank accounts that enclose an approximated amount of USD $7.9 billion.

According to Worldradio, The Guardia di Finanza have demanded the details of the 10,000 accountholders. Switzerland’s Federal Tax Administration have yet to comment on the demand due to the case being ongoing. Last year, a settlement of USD $128 billion between Credit Suisse and Italy also led to an investigation. In addition, the case concerned 13,000 clients and insurance policies with offshore assets that accumulated to more than USD $16 billion.

The prosecutor in Milan has recognised that 3297 bank accounts belonging to Italian residents are considered to have withheld a total of USD $201 million in tax, interest and penalties from the Italian authorities.