The U.S. Department of Justice (DOJ) isn't playing games when it comes to overseas banks that aim to help American citizens evade taxes.

This was evident during the very aggressive approach to the probe of UBS over the past two years. Recall the Swiss bank was accused of helping Americans evade taxes by parking money abroad. UBS ultimately paid a $780 million fine and "handed over data on thousands of clients to avoid a conviction in a similar case that could have cost it its banking license in the United States," reminds the New York Times. Now prosecutors have their sights set on other foreign banks, notably another Swiss giant--Credit Suisse.

The bank has just disclosed that it has been notified by the DOJ that it is the object of a formal investigation and that it had previously received subpoenas and other information requests from the DOJ and other agencies regarding cross-border services to American clients. This continues what might become an increasingly large problem for the bank. In February, four private bankers "tied to Credit Suisse were indicted in the United States in February for helping Americans evade taxes." Three of the banks had left the bank before they were charged.

There is no doubt the bank is aiming to settle. At this point, the most nervous parties may be American customers who thought their use of Credit Suisse accounts to lower their tax liability would never be discovered. It's unclear whether the DOJ will again offer an amnesty program for citizens who turn themselves in.

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