By Micah Jonah
February 3, 2026
An investigation has uncovered 890 bank accounts at Swiss lender Credit Suisse with potential links to Nazi institutions and individuals, according to United States Senator Chuck Grassley.
Grassley disclosed the findings ahead of a US Senate Judiciary Committee hearing examining the role of banks in facilitating activities linked to the Holocaust. He said the accounts include previously undisclosed wartime records connected to the German Foreign Office, a German arms manufacturing firm and the German Red Cross.
The Senator, who chairs the committee, said the review showed that Credit Suisse’s historical banking relationships with Nazi organisations were more extensive than earlier acknowledged. He noted that records indicate the economic arm of the Nazi paramilitary group SS maintained an account with the bank.
According to Grassley, investigators also uncovered new details relating to a scheme that helped Nazi officials escape to Argentina after the Second World War. He said he has received two reports and a further investigative update on the ongoing probe.
UBS Group, which acquired Credit Suisse in a government brokered emergency takeover in 2023, said it has been cooperating with the investigation being led by former US prosecutor Neil Barofsky. The bank stated that it regrets the role Swiss banking played during what it described as a dark period in history and reaffirmed its commitment to full transparency.
UBS said that upon taking over Credit Suisse, it prioritized restarting, supporting the investigation and has since taken steps to facilitate access to historical records. The bank added that its objective is to complete the review so that the findings can be made public.
The investigation is expected to conclude by early summer, with a final report anticipated before the end of the year, according to aides to the Senate Judiciary Committee.
