The UK has today confirmed it is investigating an unnamed global financial institution suspected of suspected tax evasion and money-laundering.
"The first phase of the investigation, which will see further, targeted, activity over the coming weeks, is focused on senior employees from within the institution, along with a number of its customers," Her Majesty's Revenue and Customs (HMRC), said in a statement.
The tax authority declined to give further details, saying the investigation was ongoing.
Earlier today Dutch prosecutors announced that they had arrested two people, seized paintings, a gold bar and jewelry as part of an international hunt for tax evaders.
The arrests came as the result of a tip-off about 55,000 suspect accounts at a Swiss bank.
The Dutch authorities added that raids were executed yesterday in the Netherlands, the UK, Germany and Australia.
Credit Suisse said local authorities had been in contact with their offices in London, Paris and Amsterdam over client tax matters and added that they were cooperating with the authorities.
"The international reach of this investigation sends a clear message that there is no hiding place for those seeking to evade tax," the HMRC said.