A sign of a Credit Suisse private banking branch is seen on May 19, 2014 in Geneva, Switzerland
Media playback is unsupported on your device
Video

Credit Suisse pleads guilty to helping 'tax cheats'

The Swiss banking giant Credit Suisse has pleaded guilty to helping some US clients avoid paying taxes to the government.

It has agreed to pay a $2.6bn (£1.5bn) fine and is the biggest bank to plead guilty to criminal charges in more than 20 years.

Credit Suisse said in a statement it deeply regretted the past misconduct.

Michelle Fleury reports.

  • 20 May 2014