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US Justice Dept hits 80 Swiss banks with penalties
Eighty Swiss banks have agreed to pay the US fines totaling $1.36 billion in order to avoid court prosecution, according to the US Justice Department.
After the investigation has been completed all the banks are required to cooperate in related criminal or civil proceedings, said the department.
The US Justice Department began its Swiss Bank Program in 2013. It provided a way for Swiss banks to admit...