Thomson Reuters Tax & Accounting News

Featuring content from Checkpoint

Back to Thomson Reuters Tax & Accounting News

Subscribe below to the Checkpoint Daily Newsstand Email Newsletter

BBVA Suiza S.A. to pay more than $10 million under U.S. Swiss bank program

WASHINGTON (Reuters) – BBVA Suiza S.A. will pay more than $10 million and continue to cooperate with American authorities in a resolution reached under the Swiss Bank Program, the U.S. Justice Department said on Friday.

“Swiss banks such as BBVA Suiza S.A. are providing detailed information regarding their efforts to conceal U.S.-related accounts, and are turning over the names of individuals and entities that facilitated this criminal conduct,” said Acting Assistant Attorney General Caroline D. Ciraolo.

The Swiss Bank Program provides a path for Swiss banks to resolve possible criminal liabilities in the United States.

Tagged with →