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Credit Suisse’s reaction to the prosecution’s accusation is exceptionally sharp: the bank is “alienated”, describes the accusations as “unfounded and unfounded” and rejects them “in all its forms”.
The threat of a maximum fine of five million francs due to organizational shortcomings should not enrage the bank. Or the threat of confiscation of the profits obtained from the reported business. Large international corporations often have to deal with a dozen of them at the same time.
Credit Suisse criticizes the Federal Prosecutor’s Office because, from the bank’s point of view, they judged its behavior from 2004 to 2008 using legal standards that were not applied at the time.
If this is indeed the case, the bank would really have no reason to be upset, as this point could be clarified in federal criminal court. If it weren’t for the reputation. These criminal proceedings, which could drag on for several years, are likely to cause repeated damage to reputation that exceeds impending fines many times over. And this even if the bank was finally acquitted.
