Swiss Bank Employee Embezzles $2.8M to Fund Gambling Habit

Swiss police say a bank employee has admitted stealing millions from the bank's safe to fund her $60-89,000 a week gambling habit.

Police in the northern canton of Schaffhausen say the 41-year-old woman confessed to embezzling $2.8 million over the course of five years.

Investigating magistrate Martina Fankhauser says the unidentified Swiss woman was arrested Sept. 21 and has since been released pending charges.

Swiss banking giant UBS AG has confirmed that it alerted police in September after discovering funds were missing at its branch in Neuhausen near the Swiss-German border.

UBS spokesman Dominique Gerster said Monday that clients' accounts weren't affected by the alleged fraud.