Credit Suisse to pay US $47m over Asia hiring practices

Written by Oliver Wade

Credit Suisse will pay $47m (£35m) to the US Department of Justice (DoJ) over hiring practices in Asia, the bank announced yesterday.

This Swiss bank is paying the penalty to resolve an investigation into hiring practices in Asia between 2007 and 2013, after the announcement in February that US authorities were investigating whether Credit Suisse had hired referrals from government agencies in Asia in return for business and regulatory green lights.

Credit Suisse has said that no criminal charges have been pressed and the $47m has been "substantially provided" for in prior stocks.

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