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Violation Tracker Individual Record

Company: Banque Pictet et Cie SA
Penalty: $122,900,000
Year: 2023
Date: December 4, 2023
Offense Group: financial offenses
Primary Offense: tax violations
Mega-Scandal: Assisting Tax Evasion
Violation Description: Swiss private bank Banque Pictet et Cie SA admitted to conspiring with U.S. taxpayers and others to hide more than $5.6 billion in 1,637 secret bank accounts in Switzerland and elsewhere and to conceal the income generated in those accounts from the IRS. Banque Pictet entered into a deferred prosecution agreement and agreed to pay approximately $122.9 million to the U.S. Treasury.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Tax Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.