Credit Suisse embroiled in major global tax evasion investigation

Gold bar and art seized in Netherlands raids, as authorities investigate 55,000 suspect Swiss bank accounts across Europe and Australia

Switzerland’s second largest bank, Credit Suisse, is at the centre of an international tax evasion case involving 55,000 suspect accounts and the seizure of millions of euros in cash, gold, jewellery, real estate and paintings.

In a fresh blow to Switzerland’s attempts to clean up its reputation for banking secrecy and tax evasion, the Netherlands is leading a coalition of five tax authorities conducting a criminal investigation into undeclared “black” accounts and money laundering.

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