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Credit Suisse to hand over account data

Credit Suisse will turn over names of US customers suspected of avoiding taxes with hidden Swiss accounts

Credit Suisse will hand over names of clients suspected of dodging US taxes, intensifying the campaign by US authorities to pressure Swiss banks into turning over Americans with hidden accounts.

Credit Suisse said on Tuesday that it will hand over account information to Swiss tax authorities in response to a request from the US 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.

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