November 19, 2015 / 6:15 PM / 4 years ago

Swiss banks to pay $81 mln, avoid U.S. charges on aiding tax evasion

Nov 19 (Reuters) - Three Swiss banks will pay a total of more than $81 million in deals reached with the U.S. Justice Department to avoid possible prosecution for helping Americans to evade taxes, the Department said on Thursday.

The three banks, the Swiss unit of BNP Paribas SA ; KBL (Switzerland) Ltd.; and Bank CIC, also agreed to cooperate in any related criminal or civil proceedings, the Justice Department said.

The banks settled under a voluntary program the Justice Department launched in 2013 to allow Swiss banks to resolve potential criminal charges by disclosing cross-border activities that helped U.S. account holders conceal assets. (Reporting by Suzanne Barlyn; Editing by David Gregorio)

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