French investigators today raided the offices of several major banks in connection with, among other things, suspected money laundering and tax evasion, Reuters reported. We are talking, among other things, about Societe Generale or BNP Paribas.
According to Reuters, the National Financial Prosecutor’s Office today raided the offices of several major banks in connection with, among other things, the suspicion of money laundering and tax evasion. These are Societe Generale, BNP Paribas, Exane, Natixis and HSBC.
Searches in five banks
The National Financial Attorney announced five investigations related to the so-called “CumCum” practices, through which wealthy clients sought to avoid paying dividend taxes through complex legal structures.
– Current activities, which took several months to prepare, are carried out by 16 investigating judges and more than 150 investigators – This is stated in the message of the National Financial Prosecutor’s Office, which is quoted by Reuters.
Case “Sperm”
The “CumCum” (also known as “CumEx-Files”) scandal was exposed five years ago. It turned out that artificial operations are carried out in the banking sector, which are designed to transfer money in such a way that companies do not have to pay dividends. A journalistic investigation revealed that the practice could have cost tens of billions of euros at the time, although the estimated cost could be as high as 140 billion euros.
Financial institutions, as Interia.pl recalls, have been under the supervision of the tax authorities since 2017, and the National Financial Prosecutor’s Office launched an investigation in December 2021.
So far, the banks have not commented on this. The searches of the National Financial Prosecutor’s Office were confirmed by the representative of Societe Generale.
Source: Wprost
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