Credit Suisse under fire as Swiss watchdog steps up snooping scrutiny

Switzerland’s bank watchdog is stepping up an inquiry into staff surveillance at Credit Suisse (CSGN.S), it said on Friday, as pressure mounts on the bank to explain a second alleged instance of an executive being tailed.

Credit Suisse said on Tuesday it was looking into a report by a Swiss newspaper that its then-human resources boss was followed by private detectives in February. The report revived concerns about its practices after a similar surveillance operation uncovered in September rocked Switzerland’s financial centre and prompted the ousting of one of Chief Executive Tidjane Thiam’s long-term associates.

Last week the Wall Street Journal reported