According to a US-led investigation, the bank’s American branches made illegal transactions to clients’ accounts while evading taxes, a violation of recent laws that passed in the US to curb the money-laundering phenomenon.
Additional banks in Israel and abroad are also being investigated, analysts reported. Credit Suisse will pay the USD 2.5 billion in fines. Israeli banks Mizrahi-Tefahot and Hapoalim are slated to pay fines as well, as part of a similar investigation.
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