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The searches follow a series of investigations
against Swiss banks, including Credit Suisse, into their
dealings with wealthy clients and hidden offshore accounts,
against the backdrop of international pressure on Switzerland's
secrecy laws.
"We can confirm that the Guardia di Finanza has conducted
searches at our premises in Milan and that we are co-operating
fully with the authorities," a spokeswoman for Zurich-based
Credit Suisse said in an emailed statement on Thursday.
She declined to comment on the reason for the searches, or on
the media reports.
Italian media have reported that the searches were linked to an
investigation into alleged tax evasion by around 1,000 wealthy
Italians for an estimated 8 billion euros ($9.45 billion).
According to the reports, the checks involved a Bermuda
subsidiary of the Swiss bank - Life and Pensions - which offered
insurance products that authorities suspect allowed wealthy
clients to hide funds offshore.
The Italian tax police declined to comment.
($1 = 0.8464 euros)
(Reporting By Katharina Bart in Zurich and Silvia Aloisi in
Milan; Additional reporting by Sara Rossi in Milan; Editing by
Pravin Char)
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