Official statements from UBS or major news outlets

Credit Suisse, Now UBS Subsidiary, Concealed Nazi-Linked Accounts, Senate Budget Committee Finds

Jan 4, 2025, 08:48 PM

An investigation by the U.S. Senate Budget Committee has uncovered that Credit Suisse, now a subsidiary of UBS, concealed information about Nazi-linked bank accounts during previous inquiries in the 1990s. Tens of thousands of documents, including 3,600 physical documents and 40,000 microfilms, have provided new evidence of account holders connected to the Nazis. The Senate Budget Committee stated that Credit Suisse did not disclose these accounts in earlier investigations. The probe, led by former prosecutor Neil Barofsky, who was reinstated as an independent ombudsperson after being fired by Credit Suisse in 2022, continues to examine the bank's archives. UBS has committed to a thorough review of these historical accounts and is assisting Barofsky in his investigation, with a final report expected in early 2026.