A US investigation has identified 890 accounts with potential Nazi links at Credit Suisse. The accounts included previously undisclosed wartime accounts for the German Foreign Office, a German arms manufacturing company, and the German Red Cross.
This was revealed by US Senator Chuck Grassley ahead of the Judiciary Committee’s hearing on banks’ facilitation of the Holocaust, Reuters reported. The hearing is slated for later today, February 3.
The review also pointed to more extensive banking relationships between Credit Suisse and the Nazi paramilitary organisation SS, with its economic arm maintaining an account at the bank. New details emerged regarding a scheme to help Nazis flee to Argentina.
UBS, which acquired Credit Suisse in an emergency takeover in 2023, said it is working with former US prosecutor Neil Barofsky to shed light on Nazi-linked accounts held at Credit Suisse. Both UBS and Credit Suisse had previously apologised and reached a global settlement in 1999, which the bank said provided finality from claims and closure of controversy.
Also Read: Mahatma Gandhi’s 426-kg bronze statue stolen in Australia; probe underway
Robert Karofsky, President of UBS Americas, said the company “accepts and deeply regrets that the World War Two era was a dark period in the history of Swiss banking” and that the bank is committed to completing Barofsky’s review so the findings can be shared in a final report.
Grassley has received two reports and an investigative update on Barofsky’s investigation, which UBS describes as a voluntary initiative.
Also Read: India-US Trade Deal | Dairy, agriculture protected, says Piyush Goyal
First Published: Feb 3, 2026 7:16 PM IS
