Swiss authorities are reviewing information provided by the country's banks on suspicious transactions made by Saudi nationals, the Financial Times reported, citing "people close to the situation."
The country's banks are obligated to report such activities to the Swiss Money Laundering Reporting Office, according to the report.
"As is standard procedure, incoming information is currently being assessed," the Swiss attorney general's office told the FT. However, criminal proceedings have not been initiated, the office said.
In November, Saudi Arabia arrested dozens of royal family members, military officers, executives and government officials in an anti-corruption investigation led by Crown Prince Mohammed bin Salman, who heads the country's anti-corruption committee.
Credit Suisse Group AG said there were no implications on its business "with regards to the recent developments in Saudi Arabia," but that it will continue to monitor the situation closely, the FT said. UBS did not comment.