Compliance
All Credit Suisse Group employees are committed to the highest standards of compliance with all legal, regulatory and internal requirements and they observe strict standards of professional conduct at all times. The implementation of compliance begins when selecting employees and ranges from training, detailed processes and rules to effective supervisory and control systems. Credit Suisse Group does not tolerate any breaches of compliance.
Switzerland leads the way in the fight against money laundering and has the strictest know-your-customer rules in the world. Credit Suisse Group has a clear policy that is implemented rigorously if signs of criminal activity are detected. If money laundering is suspected, the bank reports this immediately to the responsible authorities. Moreover, if an official investigation is launched, the bank cooperates closely with the authorities. Swiss law places special duties of due diligence on banks with regard to relations with "politically exposed" persons.
The terrorist attack of September 11, 2001, in the US brought a new type of criminal financial activity to the attention of the general public: so-called "terrorist funding". Credit Suisse Group has since made every effort to help identify and search for this type of funds. In January 2002, the Wolfsberg Statement on the Suppression of the Financing of Terrorism was published by the Wolfsberg Group − a partnership of well-known international banks, including Credit Suisse Group, which have pledged to combat money laundering. The statement outlines the Wolfsberg Group's commitment to combat these financial flows and calls on authorities worldwide to take a coordinated approach to the prevention of money laundering.