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Swiss Bank Fined $22M via Tax Evasion Case

March 24, 2021 by Louis Chunovic

Swiss Bank Fined $22M via Tax Evasion Case

Zurich, Switzerland’s oldest private bank has admitted that it helped United States taxpayers hide offshore accounts from the Internal Revenue Service. The bank, Rahn+Bodmer, will pay $22 million in fines and penalties. It also has reached a deferred prosecution agreement with the U.S. Department of Justice. Of the entire $22 million in penalties, $4.9 million,… Read More >>

Filed Under: Middle-Office, Operational Risk, Risk Management, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), Back-Office, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance, Regulatory Reporting, Industry News Tagged With: Internal Revenue Service, IRS, Rahn+Bodmer, tax evasion, tax fraud, tax reporting, U.S. Department of Justice

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