Bloomberg News

Credit Suisse Reintroduces Travel Ban to Germany, Boersen Says

April 03, 2012

Credit Suisse Group AG (CSGN) reintroduced a ban at the start of this month on client advisers traveling to Germany, Boersen-Zeitung reported, without citing anyone.

The ban was initially implemented in early 2010 and since rescinded, the German newspaper said. The risk of Swiss bankers being targeted when visiting clients in Germany has risen amid a spat relating to tax evasion and stolen client data, Boersen- Zeitung said, citing an unidentified banker.

Bjoern Korschinowski, a Frankfurt-based spokesman for Credit Suisse, declined to comment when contacted by Bloomberg News today.

Switzerland is seeking to arrest three German tax investigators who negotiated the purchase of data on Credit Suisse clients for economic espionage, a German government spokeswoman said on March 31. The tax investigators from the state of North Rhine-Westphalia negotiated the 2.5 million-euro ($3.3 million) purchase of personal information of clients of Credit Suisse who may have evaded taxes in Germany in 2010.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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