France, Germany tax evasion inquiries target Swiss bank clients
PARIS — France and Germany have launched a series of raids on the offices and homes of bank officials and their wealthy customers in an ongoing inquiry aimed at cracking down on those who evade taxes by using Swiss banks.
On Tuesday, German police searched the homes of an unspecified number of Credit Suisse bank customers suspected of tax evasion. In France, detectives raided the offices of Swiss banking and finance house UBS in three major cities: Lyon, Bordeaux and Strasbourg.
Officials in both countries refused to say whether the raids were coordinated or coincidental.
Switzerland has long prided itself on its banking secrecy, entrenched in law since 1934, making it a criminal offense to reveal a client's identity.
http://www.latimes.com/news/nationworld/world/la-fg-europe-banker-raids-20120712,0,6147753.story
