UBS Paris headquarters raided by French authorities in tax evasion probe
Swiss bank under investigation over allegations of money laundering
French police have raided the Parisian headquarters of Swiss bank UBS, a spokesman said.
UBS France is currently under formal investigation over allegations it helped wealthy clients evade taxes through undeclared bank accounts.
This is the second time police have searched the bank's premises since French prosecutors initiated the investigation in 2012.
UBS said it regarded the raid as "normal" and will continue to cooperate with French authorities, which have also visited the bank's offices in Strasbourg and Lyon as part of the ongoing investigation.
Regulators fined the French arm of the bank €10 million for failing to implement appropriate controls to avoid illicit activities earlier this year.
UBS rejected the "contentious nature" of the decision and reiterated that it does not engage in activities intended to help its clients "circumvent their tax obligations".
The probe continues.
- 1 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 iOS 8 apps and features: eight iPhone settings you need to look at after you install the update
- 3 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 4 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 5 Scotland could still declare independence – even without referendum, says Alex Salmond
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks own nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...