Swiss bank giant UBS is being investigated over money laundering and serious organised tax fraud in Belgium. A statement from prosecutors said: “The Swiss bank is suspected of having directly, and not via its Belgian subsidiary, approached Belgian clients to convince them to set up constructions aimed at evading taxes.” UBS said it would “defend itself against any unfounded allegations”.  It is the latest in a series of probes into malpractice by banks. The prosecutors’ statement said the judicial investigation came after “excellent” help from French authorities, who had been looking at allegations that UBS had been encouraging clients to open accounts in Switzerland to avoid tax between the years 2004-12. Read more…