Jan 2016 - 

Germany - 2,000 UBS clients being investigated by German prosecutors


Prosecutors in Germany who are investigating tax fraud by clients of the Swiss bank UBS have launched around 2,000 proceedings, German paper WAZ quoted a state prosecutor as saying. UBS and several other Swiss banks are being targeted in investigations into personal tax evasion by countries chasing hidden money held in Swiss bank accounts, as a result of wealthy Europeans taking advantage of Switzerland's banking secrecy rules.

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