Yahoo – AFP,
Ben Simon, March 31, 2017
 |
| Credit Suisse simply said its offices had been 'visited' by authorities, but reports say it's the main target of a sweeping tax evasion probe (AFP Photo/FABRICE COFFRINI) |
Geneva
(AFP) - Authorities in Europe and Australia announced a sweeping tax evasion
probe Friday reportedly targeting Credit Suisse clients and senior employees,
as investigators detailed arrests and the seizure of artworks and gold.
There was
no definitive confirmation that Credit Suisse was the main target of the fraud
investigations, run by at least four European countries and Canberra and
apparently involving hundreds of suspects.
The Swiss
financial giant simply confirmed that its offices in London, Paris and
Amsterdam had been visited by local authorities on Thursday "concerning
client tax matters".
"We
are cooperating with the authorities", Switzerland's number-two bank said in
a statement.
Dutch
prosecutors said dozens of people who allegedly concealed millions of euros
were being probed for tax fraud and money laundering and that records were
seized on Thursday from "a Swiss bank" which they did not name.
Similar
operations were carried out in Britain, France, Germany and Australia, all
focused on clients who "deposited their money in the same Swiss
bank", according to a statement from the National Prosecutor's Office for
Serious Fraud, Environmental Crime and Asset Confiscation (FIOD).
Two people
accused of not declaring their savings have been arrested and two other
suspects were interrogated, the FIOD said.
"Properties,
and jewellery, an expensive car, expensive paintings and a gold bar", were
seized from houses in The Hague and three other areas, the Dutch statement
added.
'Senior
employees' targeted
Britain's
Revenue and Customs office said that it on Thursday along with international
partners had launched a criminal probe into tax evasion and money laundering
"by a global financial institution".
"The
first phase of the investigation, which will see further, targeted, activity
over the coming weeks, is focused on senior employees from within the
institution, along with a number of its customers," the statement from
London said.
It also
made no mention of Credit Suisse, but said the investigation should serve as a
stark reminder to institutions that aim to help clients evade tax.
Would-be
tax cheats "need to wake up to reality and accept that attempting to hide
wealth overseas, or within institutions, doesn't work."
French
prosecutors confirmed that they too had opened a tax fraud investigation into undeclared
Swiss bank accounts.
The
financial fraud office said it had identified several thousands of accounts in
Switzerland that were allegedly used to hide money.
This
amounted to suspected "aggravated dissimulation of tax fraud", it
said, with no reference to Credit Suisse.
346
people implicated
In
Australia, revenue and financial services minister Kelly O'Dwyer said
investigators there had identified more than 346 people "with links to
Swiss banking relationship managers" who allegedly promoted tax evasion.
Australian
investigators plan to "move quickly" against those who schemed to
hide wealth, she said, noting however that some of those in the firing line
will likely be exonerated.
The launch
of a coordinated, international probe targeting an iconic Swiss bank came as a
surprise to Bern, Switzerland's ATS news agency reported.
The Swiss
attorney general's office was not aware of the operations and demanded a
written explanation from Dutch officials in particular over the lack of
cooperation, according to ATS.
Credit
Suisse has previously been in the crosshairs of tax officials.
US
regulators fined the bank $2.6 billion (2.4 billion euros) in 2014 for helping
Americans evade taxes.
"Credit
Suisse continues to follow a strategy of full client tax compliance," the
bank said Friday.
The
coordinated probe comes as Credit Suisse rolls out its new Automatic Exchange
of Information programme designed to share taxpayer information with relevant
global authorities as part of a wider Swiss crackdown on money laundering and
secretive banking.
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