The Department of Justice (DOJ) announced today that PKB Privatbank AG, Falcon Private Bank AG, and Credito Privato Commerciale in liquidazione SA (CPC) have agreed to collectively pay over $8.4 million in penalties under the DOJ’s Swiss Bank Program.  Under the program, each bank agreed to cooperate in any related criminal or civil proceedings, demonstrate its implementation of controls to stop misconduct involving undeclared US accounts, and pay penalties in return for the DOJ’s agreement not to prosecute the banks.