Credit Suisse (NYSE:CS. is facing a probe into suspected money laundering after raids at branches in the Netherlands, Britain and France.
In what is being described an unprecendented move, the Dutch serious fraud office FIOD searched houses of suspects and seized administrative records from the Swiss bank.
FIOD’s counterparts in Britan, France and Australia carried out similar raids at the same time.
“The suspects with undeclared savings in the above-mentioned countries all deposited their money in the same Swiss bank.” it said.
Though FiOD did not name the bank Credit Suisse later confrimed it was the one concerned.
Reports said the Dutch had seized paintings, gold, jewellery and one car.
More raids will follow it said as it has information on thousands of accounts.