$17.00B
Involved
Credit Suisse Risk Management Failures
🇨🇭
Switzerland
fraud
Case Closed
Date Discovered
March 15, 2023
Organization
Credit Suisse
Victims
50,000
Perpetrators
Credit Suisse management
Legal Outcome
Emergency takeover by UBS for $3.25 billion. AT1 bondholders wiped out ($17B).
Economic Impact
Swiss banking reputation damaged, global bank confidence crisis, forced merger with UBS.
Regulatory Changes
Swiss banking regulation review, too-big-to-fail reforms, AT1 bond structure scrutiny.