UBS, the Swiss bank, is being investigated by Belgian authorities for suspected money laundering and organised crime, according to media reports.

UBS, the Swiss bank, is being investigated by Belgian authorities for suspected money laundering and organised crime, according to media reports.

M.... Belgique magazine reported that wealthy Belgian taxpayers, including entrepreneurs and sports stars, had been approached by UBS employees over a 10-year period and encouraged to open undeclared accounts in Switzerland. The magazine said that the bank's local arm, UBS Belgium, had helped to organise the transfer of money to Switzerland.

The investigation, which is being led by judge Michel Claise, began at the end of last year and is based on “very real” testimony, the magazine said.

When contacted by this publication, UBS said that it had not been informed of any preliminary investigation concerning UBS Belgium and was therefore not in a position to comment.

The news follows reports last month that UBS banned some of its employees from entering France due to fears they could be interviewed in connection with an ongoing tax investigation.

According to Swiss radio and television firm RTS, UBS told “dozens of employees” that they were not allowed to travel to France and those that fail to comply could face dismissal.

The French unit of UBS has been under investigation by French authorities since June last year for allegedly soliciting French clients to open accounts designed to evade taxes in Switzerland.

Last year, UBS was fined €10 million (about $13.1 million) by France’s Prudential Supervisory Authority for what the regulator called “lax” controls in business practices relating to tax evasion.

The Sanctions Committee of the ACP, which had opened disciplinary proceedings in April 2012, also reprimanded the French subsidiary of the Swiss bank. It said its actions did not pre-judge other actions it may take against Switzerland's biggest bank.