Credit Suisse ‘co-operating’ in money laundering case

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Amsterdam
Swiss bank Credit Suisse has been dragged into yet more tax evasion and money laundering investigations, after a tip-off to Dutch prosecutors about tens of thousands of suspect
accounts triggered raids in five
countries.
Co-ordinated raids began on Thursday in the Netherlands, Britain, Germany, France and Australia, the Dutch office for financial crimes prosecution (FIOD) said, with two arrests confirmed
so far.
The Dutch are “investigating dozens of people who are suspected of tax fraud and money laundering”, the prosecutors said, adding that suspects had deposited money in a Swiss bank without disclosing that to authorities.
British tax authorities said they had also opened a criminal investigation into suspected tax evasion and money laundering by “a global financial institution” and would be focusing initially on “senior employees”, along with an unspecified number of customers.
“The international reach of this investigation sends a clear message that there is no hiding place for those seeking to evade tax,” Her Majesty’s
Revenue and Customs said in a statement.
Neither the Dutch nor the British disclosed the name of the bank involved.
However, Credit Suisse, Switzerland’s second-biggest bank, said local authorities had visited its offices in Amsterdam, London and Paris “concerning client tax matters” and it was co-operating.
The Dutch FIOD seized administrative records as well as the contents of bank accounts, real estate, jewellery, a luxury car, expensive paintings and a gold bar from houses in four Dutch towns and cities. Reuters