Credit Suisse has come out with strong denials about any wrongdoings related to historical accounts. Image Credit: Reuters

Vienna: The Swiss banking giant Credit Suisse said it “strongly rejects” allegations of wrongdoing after dozens of media published results of co-ordinated, ‘Panama Papers’-style investigations into a leak of data on thousands of accounts held there in previous decades.

One person leaked the information on the accounts ranging from the 1940s to the 2010s to Germany’s Sueddeutsche Zeitung, which shared it with the Organized Crime and Corruption Reporting Project and 46 other news organisations including the New York Times, the Guardian of Britain and France’s Le Monde.

The allegations in the media articles included that the bank had human rights abusers and businessmen under sanctions among its clients.

“Credit Suisse strongly rejects the allegations and insinuations about the bank’s purported business practices,” Credit Suisse said in a statement issued in response to the consortium’s reports. “The matters presented are predominantly historical and the accounts of these matters are based on partial, inaccurate, or selective information taken out of context, resulting in tendentious interpretations of the bank’s business conduct.”

The bank said it had received “numerous inquiries” from the consortium in the past three weeks and reviewed many of the accounts in question. “Approximately 90 per cent of the reviewed accounts are today closed or were in the process of closure prior to receipt of the press inquiries, of which over 60 per cent were closed before 2015,” it said.

“Of the remaining active accounts, we are comfortable that appropriate due diligence, reviews and other control related steps were taken in line with our current framework. We will continue to analyze the matters and take additional steps if necessary.”