Swiss to Hand Over Bank E-Mails to U.S. Tax Authority, DRS Says

Switzerland plans to hand over copies of 4 million to 6.5 million e-mails from Credit Suisse Group AG (CSGN) and seven other Swiss banks to U.S. tax authorities, Swiss Radio DRS reported, without saying where it got the information.

The e-mails are encrypted so the authorities can’t currently read the content, which includes correspondence between clients and their advisers, DRS said. Switzerland will help decode the messages once the two countries reach an agreement, the radio service reported.

Credit Suisse declined to comment while a spokesman for Switzerland’s State Secretariat for International Financial Matters wasn’t immediately available for comment when called by Bloomberg News.

To contact the reporter on this story: Giles Broom in Geneva at gbroom@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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