Regulatory Nazi-linked accounts investigation

Credit Suisse's 890 Nazi-Linked Accounts Revealed

Analysis based on 19 articles · First reported Feb 03, 2026 · Last updated Mar 16, 2026

Sentiment

-20

Attention

Articles

Market Impact

Direct

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Market Impact

The revelation of 890 Nazi-linked accounts at UBS===Credit Suisse, now under UBS, casts a negative light on the Swiss banking sector's historical practices. While UBS is cooperating, the ongoing investigation could lead to further reputational damage and scrutiny for the financial industry.

Banking Financial services

Event Summary

U.S. Senator Chuck Grassley announced that an investigation has identified 890 previously undisclosed accounts at Swiss lender UBS===Credit Suisse with potential Nazi links. These accounts include those for the Germany===Federal Foreign Office, a German arms manufacturing company, the German Red Cross, and the Schutzstaffel paramilitary organization. The probe, led by former U.S. prosecutor Neil Barofsky, also uncovered new details about UBS===Credit Suisse's involvement in a scheme to help Nazis flee to Argentina after World War II. UBS, which acquired UBS===Credit Suisse in 2023, has committed to facilitating Barofsky's review, which is expected to conclude by early summer with a final report by year-end. Both UBS and UBS===Credit Suisse have apologized for their roles during World War II and reached a global settlement in 1999, but these new findings highlight gaps in the historical record.

Key Actions

95 UBS===Credit Suisse maintained accounts for Nazi-linked entities

90 Chuck Grassley identified 890 accounts with potential Nazi links at UBS===Credit Suisse UBS===Credit Suisse

85 UBS===Credit Suisse facilitated a scheme to help Nazis flee Argentina

70 UBS acquired UBS===Credit Suisse in an emergency takeover UBS===Credit Suisse

60 UBS committed to getting the investigation back on track Neil Barofsky

Entities Involved

subs

UBS===Credit Suisse

UBS===Credit Suisse is at the center of an investigation revealing 890 accounts with potential Nazi links, including those for the Germany===Federal Foreign Office, a German arms manufacturing company, the German Red Cross, and the Schutzstaffel paramilitary. This discovery further tarnishes its historical reputation regarding its role during World War II.

Importance 100 Sentiment -50

per

Chuck Grassley

Chuck Grassley, a U.S. Senator and chairman of the Judiciary Committee, has been instrumental in pushing for and overseeing the investigation into UBS===Credit Suisse's Nazi-linked accounts. He revealed the new findings and continues to follow the probe.

Importance 80 Sentiment 0

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Credit Suisse

Credit Suisse's activities during World War Two are at the center of the new litigation concerns for UBS. An investigation commissioned in 2020 uncovered 890 accounts with potential Nazi links, leading to renewed scrutiny of the bank's historical conduct.

Importance 80 Sentiment -30

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UBS

UBS acquired UBS===Credit Suisse in 2023 and has committed to continuing the investigation into Nazi-linked accounts. While not directly involved in the historical actions, UBS is now responsible for facilitating the review and managing the reputational fallout.

Importance 70 Sentiment -10

per

Edward R. Korman

Edward R. Korman is the U.S. District Judge overseeing the 1999 settlement and is being asked by UBS to issue a clarifying order. He noted that Nazi assets were not explicitly discussed in the original settlement negotiations and encouraged both parties to negotiate document disclosure.

Importance 70 Sentiment 0

per

Neil Barofsky

Neil Barofsky, a former U.S. prosecutor, is leading the investigation into UBS===Credit Suisse's Nazi-linked accounts. He previously faced obstruction from UBS===Credit Suisse but is now supported by UBS to complete the review.

Importance 60 Sentiment 0

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Simon Wiesenthal Center

The Simon Wiesenthal Center, a Jewish human rights group, endorsed the 1999 settlement but is now accused by UBS of threatening new litigation and publicly challenging the settlement's scope. Their lawyer, Faith Gay, argues UBS is attempting to suppress free speech.

Importance 60 Sentiment 10

+ 8 more entities View on Dashboard

Relationships

Chuck Grassley related ↔ UBS===Credit Suisse

UBS related ↔ UBS===Credit Suisse

Neil Barofsky related ↔ UBS===Credit Suisse

Chuck Grassley related ↔ UBS

UBS related ↔ Credit Suisse

David Burns related ↔ UBS

Faith Gay related ↔ Simon Wiesenthal Center

Edward R. Korman related ↔ UBS

Edward R. Korman related ↔ Credit Suisse

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