JOURNAL ARTICLE

Swiss Bank Pictet Probed by US Senate Finance Committee Chair.

  • Published In: Bloomberg.com, 2024. P. 1 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Parenti, Alisa 3 of 3

Abstract

The US Senate Finance Committee is investigating Swiss bank Pictet to determine if it is aiding tax evasion by a US citizen who is currently under criminal investigation. The committee has found evidence of suspicious internal transfers between Pictet accounts and is also examining whether these actions are covered by the $123 million fine that the bank paid as part of an agreement with the Justice Department. Pictet previously agreed to pay the fine to resolve a US investigation into its involvement in helping Americans hide over $5.6 billion in secret bank accounts. The bank has stated that it has fully cooperated with US authorities and complied with Swiss law. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/03, p1
  • Document Type:Article
  • Subject Area:Communication and Mass Media
  • Publication Date:2024
  • Accession Number:176204357
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