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March 23 (Reuters) – Credit Suisse AG (CSGN.S) and UBS group AG (UBSG.S) are under scrutiny in a U.S. Department of Justice (DOJ) probe into whether financial professionals helped Russian oligarchs evade sanctions, Bloomberg News reported on Thursday.
The DOJ also sent subpoenas to employees of some major U.S. banks, the Bloomberg report said, adding the Swiss banks were included in a wave of subpoenas sent before Credit Suisse’s takeover by UBS.
The DOJ inquiries are to identify which bank employees dealt with sanctioned clients and how those clients were vetted over past years, Bloomberg reported.
Credit Suisse declined to comment while UBS and the Justice Department did not immediately respond to Reuters’ emailed requests for comment.
Reporting by Akanksha Khushi in Bengaluru; editing by Jonathan Oatis, Lincoln Feast and Richard Chang
Our Standards: The Thomson Reuters Trust Principles.
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