More records found linking Credit Suisse, Nazi accounts: US panel

The logo of Swiss bank Credit Suisse is seen at a building in Bern, Switzerland, on December 20, 2024. (AFP)
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Updated 05 January 2025
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More records found linking Credit Suisse, Nazi accounts: US panel

  • US Senate Budget Committee says Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II
  • Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors

WASHINGTON: An investigation by a US Senate panel has found that troubled investment bank Credit Suisse concealed information during previous inquiries into Nazi-controlled bank accounts during World War II.
Tens of thousands of documents discovered during an ongoing examination have provided new proof of the existence of account holders linked to the Nazis, the Senate Budget Committee said in a statement released Saturday.
The bank did not reveal the existence of these accounts during previous investigations, notably in the 1990s, the committee said.
Credit Suisse, now a subsidiary of investment bank UBS, agreed in 1998 to take part in a $1.25 billion settlement of lawsuits brought by Holocaust survivors, but it has been accused of not being completely open about its past dealings with Nazis.
The Senate committee said Saturday that one set of newly discovered files, including 3,600 physical documents and 40,000 microfilms, was found to have a “high relevance rate” of Nazi connections.




Screenshot image showing a portion of a US Senate Budget Committee investigation into Credit Suisse’s World War II-era accounts, which was posted online by Sen. Chuck Grassley.

It said the revelations stem from an interim report by former prosecutor Neil Barofsky, who was fired as an “independent ombudsperson” by the bank in 2022 after being pressed to limit his investigative work.
Barofsky was reinstated in the role in 2023 “as a result of the Committee’s investigation,” and after UBS’s takeover of Credit Suisse.
In a letter to the panel released Saturday, Barofsky noted the “extraordinary level of cooperation that Credit Suisse, under the leadership of UBS, has provided” since he rejoined the company.
But he said Credit Suisse had yet to share all the information it held.
The Barofsky team has discovered, among other things, accounts controlled by high-ranking SS officers, the Wall Street Journal reported.
In his letter, Barofsky highlighted “especially noteworthy” discoveries from a Credit Suisse research department.
“Numerous client files in the sample are marked with a stamp stating ‘Amerikanische schwarze Liste’ — meaning ‘American Black List’ — a list maintained by the Allies of individuals and companies that were directly financed by, or were known to regularly trade with, Axis powers,” he wrote.
“One file bearing this stamp relates to an entity that was involved in selling looted Jewish assets.”
Contacted by AFP, UBS said it was committed to providing a complete record of the former Nazi-linked accounts in Credit Suisse’s predecessor banks.
It said it would provide Barofsky with all necessary assistance in his work to shed light “on this tragic period.”
The Senate panel’s investigation is continuing.
 


Australia to toughen gun laws as it mourns deadly Bondi attack

Updated 16 December 2025
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Australia to toughen gun laws as it mourns deadly Bondi attack

  • Footage showed one man, identified by local media as fruit seller Ahmed al Ahmed, grabbing one of the gunmen as he fired
  • Prime Minister Anthony Albanese convened a meeting of leaders of Australia’s states and territories in response on Monday, agreeing with them “to strengthen gun laws across the nation”

SYDNEY: Australia’s leaders have agreed to toughen gun laws after attackers killed 15 people at a Jewish festival on Bondi Beach, the worst mass shooting in decades decried as antisemitic “terrorism” by authorities.
Dozens fled in panic as a father and son fired into crowds packing the Sydney beach for the start of Hanukkah on Sunday evening.
A 10-year-old girl, a Holocaust survivor and a local rabbi were among those killed, while 42 others were rushed to hospital with gunshot wounds and other injuries.
Prime Minister Anthony Albanese convened a meeting of leaders of Australia’s states and territories in response on Monday, agreeing with them “to strengthen gun laws across the nation.”
Albanese’s office said they agreed to explore ways to improve background checks for firearm owners, bar non-nationals from obtaining gun licenses and limit the types of weapons that are legal.
Mass shootings have been rare in Australia since a lone gunman killed 35 people in the town of Port Arthur in 1996, which led to sweeping reforms long seen as a gold standard worldwide.
Those included a gun buyback scheme, a national firearms register and a crackdown on ownership of semi-automatic weapons.
But Sunday’s shooting has raised fresh questions about how the two suspects — who public broadcaster ABC reported had possible links to the Daesh group — obtained the guns.

- ‘An act of pure evil’ -

Police are still unraveling what drove Sunday’s attack, although authorities have said it targeted Jews.
Albanese called it “an act of pure evil, an act of antisemitism, an act of terrorism on our shores.”
A string of antisemitic attacks has spread fear among Australia’s Jewish communities after the October 7, 2023, Hamas assault on Israel and the ensuing war in Gaza.
The Australian government this year accused Iran of orchestrating a recent wave of antisemitic attacks and expelled Tehran’s ambassador nearly four months ago.
But Israeli Prime Minister Benjamin Netanyahu accused Australia’s government of “pouring oil on the fire of antisemitism” in the months before the shooting, referring to Canberra’s announcement that it would recognize Palestinian statehood in August.
Other world leaders expressed revulsion, with US President Donald Trump condemning the “antisemitic attack.”
The gunmen opened fire on an annual celebration that drew more than 1,000 people to the beach to mark Hanukkah.
They took aim from a raised boardwalk at a beach packed with swimmers cooling off on the steamy summer evening.
Witness Beatrice was celebrating her birthday and had just blown out the candles when the shooting started.
“We thought it was fireworks,” she told AFP. “We’re just feeling lucky we’re all safe.”
Carrying long-barrelled guns, they peppered the beach with bullets for 10 minutes before police shot and killed the 50-year-old father.
The 24-year-old son was arrested and remains under guard in hospital with serious injuries.
Australian media named the suspects as Sajid Akram and his son Naveed Akram.
Tony Burke, the home affairs minister, said the father arrived in Australia on a student visa in 1998 and had become a permanent resident. The son was an Australia-born citizen.
Hours after the shooting, police found a homemade bomb in a car parked close to the beach, saying the “improvised explosive device” had likely been planted by the pair.
Rabbi Mendel Kastel said his brother-in-law was among the dead.
“We need to hold strong. This is not the Australia that we know. This is not the Australia that we want.”
Wary of reprisals, police have so far avoided questions about the attackers’ religion or ideological motivations.
Misinformation spread quickly online after the attacks, some of it targeting immigrants and the Muslim community.
Police said they responded to reports on Monday of several pig heads left at a Muslim cemetery in southwestern Sydney.

- Panic and bravery -

A brave few dashed toward the beach as the shooting unfolded, wading through fleeing crowds to rescue children, treat the injured and confront the gunmen.
Footage showed one man, identified by local media as fruit seller Ahmed al Ahmed, grabbing one of the gunmen as he fired.
The 43-year-old wrestled the gun out of the attacker’s hands, before pointing the weapon at him as he backed away.
A team of off-duty lifeguards sprinted across the sand to drag children to safety.
“The team ran out under fire to try and clear children from the playground while the gunmen were firing,” said Steven Pearce from Surf Life Saving New South Wales.
Bleeding victims were carried across the beach atop surfboards turned into makeshift stretchers.
On Monday evening, a flower memorial next to Bondi Beach swelled in size as mourners gathered.
Hundreds, including members of the Jewish community, sang songs, clapped and held each other.
Leading a ceremony to light a menorah candle, a rabbi told the crowd: “The only strength we have is if we bring light into the world.”