Credit Suisse helped wealthy Americans dodge taxes in 'major criminal tax evasion scheme': whistleblower

A Swiss bank is being accused of helping wealthy Americans avoid taxes, according to a new report published by CNBC News.

Senate Finance Committee Chairman Ron Wyden (D-Ore.) has offered details about intel his committee received in regard to Credit Suisse and its "additional American undisclosed accounts that the bank held after 2014."

“It is still going on as of just the last couple of days — even more money has been found to have been concealed and there are very substantial issues here,” Wyden said. “Clearly, it’s time to prosecute and ensure that there are penalties that send a strong message.”

Details about the bank's dealings were revealed by a finance committee aide who spoke out on the condition of anonymity.

“Credit Suisse employees aided and abetted a major criminal tax evasion scheme,” a finance committee aide said. “To date, no Credit Suisse employees involved in the scheme have faced any consequences from the United States government for their participation.”

In wake of the latest allegations, a spokesperson for Credit Suisse has released a statement on behalf of the financial institution. According to the spokesperson, the bank does not support tax evasion in any form. She also noted the bank's work with Wyden.

“In its core, the report describes legacy issues, some from a decade ago, and we have implemented extensive enhancements since then to root out individuals who seek to conceal assets from tax authorities,” the spokeswoman said.

Credit Suisse has “supported the work of Senator Wyden, including in respect of suggested policy solutions to help strengthen the financial industry’s ability to detect undisclosed US persons.”