Credit Suisse raids will show up 'tax evasion bankers'

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The investigations by 150 officials and prosecutors in every Credit Suisse office in Germany yielded huge amounts of data from copied hard drives and more than 100 boxes of material, a spokesman for the German prosecutor's office said.

Authorities made the raids after a CD obtained earlier this year that contained names of alleged tax dodgers was analysed.

Investigators hope to analyse data from transactions between bank staff in Germany and Switzerland to assemble a list of bankers suspected of aiding tax evasion, although the bank keeps its on-shore activities in Germany separate from offshore services in Switzerland and elsewhere.

Prosecutors in Germany believe that Credit Suisse staff in Germany referred clients to their Swiss colleagues.

A spokesman for Credit Suisse said the bank complied with all laws and regulation in Germany and had been cooperating with authorities.

The raids were the latest steps in an international crackdown on tax evasion in offshore centres during which Swiss wealth management giant UBS has agreed to a hefty settlement in an American tax inquiry.