ZURICH—Credit Suisse Group AG will hand over names of clients suspected of dodging U.S. taxes, intensifying the campaign by U.S. authorities to pressure Swiss banks into turning over Americans with hidden accounts.
Credit Suisse said Tuesday that it will hand over account information to Swiss tax authorities in response to a request from the U.S. Internal Revenue Service. The bank, Switzerland’s second largest by assets, declined to comment on the number of names or when it would submit the information. The Swiss tax authority will examine the details and allow clients the chance to appeal, after which it would give the names to the IRS. That process could take several months.
The IRS’s request stems from a months-long investigation into allegations that Credit Suisse bankers helped scores of Americans evade taxes. Early this year, the U.S. indicted two current and three former Credit Suisse bankers; they have denied wrongdoing. In July, the U.S. Justice Department notified Credit Suisse that the bank itself was a formal target of a criminal investigation into allegations that it helped U.S. citizens avoid paying U.S. income tax.