Economic Update: Questions about capitalism
5 countries launch sweep tax evasion linked to Credit Suisse.
FILE - This Oct. 21 2015 file photo shows the logo of the Swiss bank Credit Suisse, Zurich, Switzerland European authorities are investigating dozens of suspected tax evasion involving Swiss bank Credit Suisse, authorities said Friday, March 31 , 2017 Dutch authorities in particular said they had arrested two people and seized goods, including luxury cars, paintings and even a bar of gold in the multi-country sweep Walter Bieri Keystone via AP, file less .
FILE - This Oct. 21 2015 file photo shows the logo of the Swiss bank Credit Suisse, Zurich, Switzerland European authorities are investigating dozens of suspected tax evasion involving Swiss bank more.
FILE- In this Tuesday, Oct. 27, 2009 file photo, a pigeon sits next to a residential office building of the bank Credit Suisse in Milan, Italy European authorities are investigating dozens of suspected tax evasion involving Swiss bank Credit Suisse, said officials on Friday, March 31, 2017 less.
FILE- In this Tuesday, Oct. 27, 2009 file photo, a pigeon sits next to a residential office building of the bank Credit Suisse in Milan, Italy European authorities are investigating dozens of suspected tax more.
GENEVA AP European authorities are investigating dozens of suspected tax evasion and money laundering involving Swiss banks Credit Suisse officials said Friday, with the Dutch authorities, in particular the detention of two persons and the seizure of property including luxury cars, paintings and even a bar of gold in the multi scanning country.
Credit Suisse issued a brief statement Friday saying that local authorities had visits from his offices in Amsterdam, Paris and London regarding unspecified customer tax issues A person familiar with the case said that it involved Credit Suisse, but bank officials and authorities did not officially confirm a link pending investigations.
Eurojust, the EU agency for judicial cooperation, said the authorities in Britain, France, Germany, the Netherlands and Australia took part in a day of action on Thursday against the companies and individuals in an operation begun by the Dutch prosecutors and tax authorities following a Dutch inquiry opened last year.
The undeclared assets hidden in offshore accounts and policies are estimated in millions of euros, Eurojust said he told the examination of witnesses continued, several actions were expected in the coming weeks, and that cooperation international will be strengthened.
The operations, coming just days before Credit Suisse in April begins an automatic information exchange program with European countries, will form again a spotlight on the Swiss banking industry, which for years had a reputation guarantee the secrecy of tax evaders.
The Dutch Tax Administration said authorities arrested two suspects and seized a gold bar, luxury cars, dozens of paintings, real estate, jewelry and bank accounts as well as data from thousands holders the probe account with the same Swiss bank in the five countries, It said.
Credit Suisse announced Friday that it is cooperating with authorities and stressed its comprehensive tax compliance strategy of the Bank's responsible clients refused to comment further.
Patrick Teuscher spokesman for the Swiss Federal Administration said it has not been contacted by foreign authorities in the case, adding We are not involved.
Switzerland has changed in recent years its rules on banking secrecy for foreigners after U S led efforts to crack down against tax evaders discovered the fraud widely supported by the Swiss banks.
In December, the Financial Action Task Force based in Paris, said Switzerland had achieved good results in the fight against money laundering and financing of terrorism, but called for strengthening compliance checks, control thrust on the use of money, and share information more with foreign authorities.
Swiss banks won t accept untaxed assets, and does not want the deal, said Sindy Schmiegel a spokesman of the main association of Swiss Bankers Swiss banks in 2018 in countries that meet the standards set by the Organization begin providing data on the accounts of tax officials of economic cooperation and development.
The Dutch tax authorities said new technologies, greater international cooperation and the lifting of bank secrecy facilitate for authorities to find tax evaders and money The Dutch and the raids were conducted in The Hague, Hoofddorp, Zwolle and Venlo .
national financial prosecutor said raids involving about two dozen French customs officers in France took place in France as part of the probe started in April, which is thousands of Swiss accounts that are not declared to tax authorities.
The British tax authorities, meanwhile, said they have launched a criminal investigation into the alleged tax evasion, which was focused on executives of unspecified financial company and a number of customers.
The international scope of the survey sends a clear message that there is no place to hide for those who seek to evade taxes, and income Customs Her Majesty said.
The authorities in Australia said they were investigating 346 Australians with links to the managers of Swiss banking relationships that have been accused of having encouraged and facilitated tax evasion schemes Australians detainees numbered accounts identified with a Swiss bank.
The fact that these accounts are unnamed means that by their nature, they are likely to have been set up to hide the identity of the owner, Minister of Australia for revenues and financial services Kelly O Dwyer said in a statement.
Unfortunately, there are still those who believe they can evade their tax obligations and to avoid detection by government agencies, she said.
Angela Charlton in Paris, Raf Casert in Brussels and Danica Kirka in London contributed to this report.
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