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Unfriendly welcome US authorities keep up pressure on Swiss banks

Geneva is a hub for private banking in Switzerland


Another Swiss banker has been arrested in the United States allegedly in connection with investigations into possible tax evasion practices.

The foreign ministry on Sunday confirmed newspaper reports that a Swiss citizen had been detained by the US authorities, but declined to give further details.

A syndicated article in two Swiss Sunday newspapers says the man is employed by the British private bank Coutts in Geneva and used to work for Switzerland’s leading UBS bank until 2009.

He is believed to have advised clients with dual US-Russian citizenship.

The 55-year old Swiss citizen was apparently arrested upon arrival in New York and brought to Florida.

Previous cases involving Swiss bankers suspected of helping rich clients dodge taxes overseas have also been handled by the Federal Court in Miami.

The SonntagsZeitung and Le Matin Dimanche newspapers say employees at Coutts in Geneva and Zurich were informed on Friday about an internal investigation.

Last year Coutts was ordered to pay a fine of €10 million (CHF12.3 million) by the British financial regulator for poor money-laundering checks. and agencies

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