German prosecutor cooperating with Dutch tax evasion probe

According to Bloomberg, Dutch investigators seized jewellery, paintings and even gold bars as part of a sweeping investigation into tax evasion and money laundering in the Netherlands.

"Tax dodgers who are the subject of investigation in the various countries all have parked the money in the same Swiss bank", the Netherlands tax prosecutor said.

Two individuals who were arrested on Thursday in connection with the raids were accused of concealing millions of euros from authorities by placing them, where else, in Swiss bank accounts, the Fiscal Information and Investigation Service said in a statement Friday.

U.S. regulators fined the bank $2.6 billion (2.4 billion euros) in 2014 for helping Americans evade taxes.

Now the United Kingdom government is in the final stages of finalising the Criminal Finances Bill, set to come into force this year, which makes all banks and accountants criminally liable for failing to prevent the facilitation of tax evasion.

Credit Suisse said it is cooperating with authorities and emphasised its "strategy of full client tax compliance". The name of the bank involved hasn't been disclosed.

Eurojust said the investigation began in 2016 and it had held three meeting with Dutch, British, French, German and Australian authorities.


'Any notion that Swiss banks are better at banking than other banks in other countries is simply untrue, they just don't play by the rules'.

Another criminal investigation into alleged tax evasion and money laundering by "a global financial institution" has started in the UK.

In a statement by the United Kingdom tax authority, it said it was investigating "senior employees" at a global financial institution.

It said questioning of witnesses was continuing, that more actions were expected in coming weeks, and that worldwide co-operation "will be intensified".

Simone Meier, a spokeswoman for Credit Suisse, declined to comment.

Credit Suisse's Khan said the 55,000 was "not a number that I can reconcile because as of today, in International Wealth Management in Europe, the total number of accounts is lower than 55,000".

The office of the Swiss attorney general criticized the fact that other countries had made a conscious decision not to inform Switzerland about the probe, and demanded a written explanation from Dutch officials in particular over the lack of cooperation, according to Swiss news agency ATS.


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