Italy's privacy watchdog, scourge of US big tech, hit by corruption probe
A former Credit Suisse Group AG client has been indicted for conspiring to evade taxes in the United States, raising questions about whether the bank—now under UBS Group AG's ownership—violated a 2014 plea agreement. This agreement involved a $2.6 billion payment and an admission of facilitating tax evasion for thousands of American clients.
Gilda Rosenberg, a businesswoman from Florida, was charged by federal prosecutors for collaborating with two family members to conceal $90 million in assets from the IRS between 2010 and 2017. She is accused of hiding funds in unreported foreign accounts while filing fraudulent tax returns and evading taxes on undisclosed income.
The scrutiny of Credit Suisse's adherence to its plea bargain intensified following a 2023 Senate Finance Committee report that indicated "major violations" of the deal. This agreement mandates the bank to report undeclared US accounts to the IRS. According to the report, Democratic staff claimed Credit Suisse failed to fully disclose US assets despite identifying "thousands of previously undeclared accounts" valued over $1.3 billion.
In light of the findings, Credit Suisse stated that it cooperates with US authorities and has provided information regarding potentially undeclared accounts belonging to American clients.
US imposes sanctions on Viktor Orbán's chief of staff for alleged corruption
The United States has imposed sanctions on Antal Rogán, Viktor Orbán's chief of staff, marking him as the highest-ranking Hungarian official to be blacklisted since the fall of Communism.
A close ally of Prime Minister Orbán, Rogán oversees state-owned media and is connected to the intelligence services. As stated by the Treasury Department, he faces allegations of establishing and benefiting from a pervasive statewide corruption network.
The US emphasized its commitment to holding accountable individuals like Rogán, who exploit their positions to illegally enrich themselves and their associates at their nation's and its citizens' expense.
Treasury Dept. Hits Chinese Tech Company With Sanctions After Breach
The Treasury Department sanctioned Integrity Technology Group, a cybersecurity firm based in Beijing, citing its role in facilitating Chinese hackers' access to US communications systems and conducting surveillance across four continents.
In its announcement, the department revealed that the company had supported a state-sponsored hacking group, Flax Typhoon, which launched a campaign to infiltrate foreign networks from the summer of 2022 to 2023. Investigations indicated that the group regularly transmitted information through Integrity Technology's infrastructure.
This action follows the Treasury Department's disclosure to lawmakers that a Chinese intelligence agency had compromised its systems, engaging in what appeared to be espionage by accessing government employees' workstations and unclassified documents.