Swiss bank UBS could face five-billion-euro fine in France

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Bank faces huge penalty if convicted of encouraging wealthy French citizens to set up dual accounts to hide cash in Switzerland.

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Swiss bank UBS could face a five-billion-euro fine if found guilty of money-laundering money for customers who dodged taxes in France. The bank is suspected of having canvassed wealthy French citizens to set up dual accounts to hide cash in Switzerland, reports RFI.