Credit Suisse has pleaded guilty to US charges for helping wealthy Americans hide over $4 billion from the tax authorities. The Swiss bank's subsidiary, Credit Suisse Service, was fined more than $510 million for facilitating tax evasion by US citizens through offshore accounts and forged documents.

The Department of Justice said Credit Suisse Services AG will hand over more than $510 million in penalties for its part in aiding U.S. taxpayers in skirting the IRS through offshore accounts.