HCPO: Claims - Bank Claims

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Bank Claims

The efforts of the Department of Financial Services to recover dormant or seized deposited assets (accounts or safe deposit boxes) of Holocaust victims grew out of an  investigation into the wartime activities of the Swiss Bank Corporation(SBC), Union Bank of Switzerland (UBS), and Credit Suisse’s New York Agencies. The goal of the investigation was to identify all the accounts held by those banks and determine to what extent assets held there belonged to victims of the Holocaust. Information uncovered was ultimately integrated into the work of the International Committee of Eminent Persons (ICEP) in Switzerland.

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Not only did the investigation uncover dormant assets but it highlighted the need for an agency to assist claimants with unresolved claims against Swiss financial institutions, and so in 1997 the HCPO was established.  Before the August 1998 announcement of the Global Settlement in the Holocaust Victims Assets Litigation case (United States District Court for the Eastern District of New York, Chief Judge Edward R. Korman Presiding (CV-96-4849)), the HCPO worked in close cooperation with the Swiss banks, enabling payment of dormant accounts of the heirs of Holocaust victims.

The HCPO’s efforts, however, did not stop with Swiss financial assets. In the late 1990s the ever increasing number of class action law suits, settlement negotiations, investigative commissions, and the creation of compensation organizations related to European financial institutions during the Holocaust, resulted in the HCPO receiving claims for assets deposited in Austria, France, Germany, Israel, the Netherlands, and the United Kingdom.

Frequently Asked Questions

Can I file a claim with the Claims Resolution Tribunal (CRT)?

  • The deadline to file a claim related to the names and/or accounts appearing on the CRT list have lapsed, therefore it is no longer possible to file a claim with the CRT.

How was the dormant account list published by the Claims Resolution Tribunal (CRT) compiled?

  • In February 2001, the Claims Resolution Tribunal (CRT) published the names of the owners of approximately 21,000 accounts that probably or possibly belonged to victims of Nazi persecution.
  • In January 2005, the CRT published approximately 2,700 additional names of Account Owners and approximately 400 additional names of Power of Attorney holders of accounts probably or possibly belonging to Victims of Nazi Persecution.

What if I recognize a name on the dormant account list published by the Claims Resolution Tribunal (CRT)?

  • The previously published lists of names of Account Owners and names of Power of Attorney Holders appear on the CRT website for informational purposes only.
  • A name match does guarantee that the individual named or his or her heirs or beneficiaries would have qualified for payment under CRT guidelines had they filed a timely claim. For example, there may be instances where the account was held by an individual with a common name that might not necessarily be the individual you are searching for.
  • Please keep in mind, a name match does not necessarily mean that the listed owners of accounts in Swiss banks were Nazi Victims. Nor does it necessarily mean these owners did not have deposited funds returned to them or that their accounts were not treated appropriately by the banks where the deposits were made. The accounts which have been identified as dormant in Switzerland are not limited to those belonging to Holocaust victims. They belong to persons of all nationalities and religions and some have been dormant since before the Holocaust.

Is there anywhere I can submit a claim for a dormant bank account?

  • At this point, the HCPO continues to assist individuals with potential claims for dormant bank accounts. The HCPO will endeavor to determine whether or not an individual may be eligible to submit a claim directly to a bank.

Contact Us/Initiate a Claim

Updated 08/06/2018

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