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Swiss bank pays up to settle German tax evasion probe

Switzerland’s Migros Bank has agreed to pay €2.4 million (CHF2.65 million) to clear up cross-border tax evasion issues with Germany. Migros is one of several Swiss banks that have shelled out a penalty to avoid prosecution in the neighbouring country. Other banks to have made such an arrangement in the past include UBS, Credit Suisse and Julius Bär.

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