Senate Uncovers Nazi-Linked Swiss Bank Accounts

A U.S. Senate investigation has revealed that Swiss lender Credit Suisse maintained at least 890 accounts with potential links to Nazi organizations and officials during and after World War II.

Senator Chuck Grassley, chair of the Judiciary Committee, disclosed that these previously undisclosed accounts included those for the German Foreign Office, a German arms manufacturer, and the German Red Cross, with evidence showing Credit Suisse’s banking relationship with the Nazi paramilitary SS was more extensive than previously known.

The investigation also uncovered new details about a scheme to help Nazis flee to Argentina following the war.

Following an emergency takeover of Credit Suisse by rival UBS in 2023, UBS has apologized for this “dark period” in Swiss banking history and hired former federal prosecutor Neil Barofsky to lead a voluntary, in-depth review aimed at providing a final report by the end of the year, which the bank says will allow the world to benefit from its findings.