Swiss banks ‘handed out £800m to Shoah victims and heirs’

Holocaust survivors and victims’ heirs have reportedly been paid more than £800 million by a Swiss fund created after banks were accused of withholding money from Jews.

According to Tachles, a Swiss-Jewish magazine, 457,000 Jews have been compensated since a settlement was made in 1998 between the World Jewish Congress and Swiss banks.

The agreement was reached after the WJC accused the banks of knowingly withholding money from survivors and heirs seeking to access secret accounts opened during the Holocaust.

Two-thirds of the settlement was allocated to the account holders, with the remaining £270 million handed over to other Holocaust victims.