LONDON, April 2 Credit Suisse has taken
out adverts in British Sunday newspapers stressing a
zero-tolerance policy on tax evasion, as the Swiss bank tries to
limit any damage to its reputation from raids on three of its
Zurich-based Credit Suisse was pulled into an international
tax evasion and money laundering investigation on Thursday when
coordinated searches were carried out on its London, Paris and
The ads, which appeared in the Sunday Times, Sunday
Telegraph and Observer, stated they were a "response to recent
reports about tax probes in various European countries".
Among seven bullet points, Credit Suisse said it "wishes to
conduct business with clients that have paid their taxes" and
the bank would "continue to work closely with the local
authorities in all matters and particularly in this new case".
The raids reopened the thorny issue of tax evasion which has
dogged Swiss banks for years as wealthy individuals around the
world have used the country's strict bank secrecy laws to hide
cash from the tax man.
Credit Suisse, Switzerland's second-biggest bank, in 2014
pleaded guilty and was fined $2.6 billion by U.S. authorities
over charges it helped wealthy Americans evade taxes. It has
also settled tax dodging cases in Italy and Germany.
(Reporting by Paul Sandle; Writing by Joshua Franklin in
Zurich; Editing by Mark Potter)