Credit Suisse probe is a blow for Swiss authorities

Geneva

THE latest probe into Credit Suisse Group AG is a blow, not just for the firm but also for the Swiss attorney-general, who didn't know some of the bank's offices were going to be raided. This week, Swiss authorities are back in damage-control mode, after almost a decade of financial scandals spanning Bradley Birkenfeld's whistle-blowing to the Panama Papers.

Finma, Switzerland's financial watchdog, was set to host its annual press conference at 9:30am on Tuesday, an event at which chief executive officer Mark Branson was to be questioned on what he knew about the March 30 raids in London, Paris and Amsterdam.