ongoing searches in five banks in France

Searches are being carried out in five banking and financial establishments in Paris and in the La Défense district, Tuesday March 28, as part of five investigations opened in 2021 on suspicion of aggravated tax evasionannounces the National Financial Prosecutor’s Office in a press release, confirming information from the World. “These investigations follow for some a complaint or a mandatory denunciation of the tax administration”specifies the PNF.

The banks Societe Generale, BNP Paribas, Exane (a subsidiary of BNP), Natixis and HSBC are targeted by these searches, learned franceinfo from a source familiar with the matter, confirming information from the World. They are suspected of tax evasion for an amount exceeding one billion euros. The searches will last all day, according to the same source.

They come after the revelations of the daily in 2018, of a scheme of fraud called “CumCum”, a tax scheme on dividends whose damage for the States would amount to more than a hundred billion euros. According to the public prosecutor, these operations are carried out by 150 investigators from Bercy, 16 French magistrates and 6 Germans.