Credit Suisse reached a nearly 110 million euro deal with Italian prosecutors last year. Now, the country's Guardia di Finanza are after client data.
Italy's tax police Guardia di Finanza is demanding that its Swiss counterpart hand over information on Italians with nearly 10,000 clients at Credit Suisse with a total value of 6.68 billion euros. The request for legal aid stems from an investigation by Milan's prosecutor, Swiss newswire AWP reported.
The Italian prosecutor said it identified 3,297 bank relationships held by wealthy Italians who withheld 173 million euros in tax, penalties and interest from Italy's coffers.
Insurance Scheme
The bank said an Italian judge in December vetted a settlement reached by the Swiss bank with Italian officials. The agreement covers Credit Suisse's offshore activities in Italy from 2008 until 2015, with which the bank considers scrutiny of its cross-border dealings to be concluded.
A fraudulent system involving insurance policies with 14 billion euros in offshore assets from 13,000 clients was at the center of that probe, which Credit Suisse paid 109.5 million euros to settle.
