French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud
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On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international bank began at the end of 2021. Cum-Ex Scheme at the Center of the Investigation; Societe Generale Confirms Involvement in the Raids Amid the banking crisis plaguing the industry in the United States and abroad, French enforcement authorities on Tuesday raided the offices of several
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