FRANCE’S financial prosecutor was searching five bank headquarters in Paris as part of an internatinoal probe into tax fraud and money laundering, officials said Tuesday. The banks at the centre of the investigation include Societe Genereale, HSBC Holdings Plc, BNP Paribas SA, and Natixis which were searched this morning. The probe relates to so-called cum-cum…
AML, Banking, Compliance, EU, Financial Crime
BREAKING: Raids on five French banks in money laundering, tax fraud probe by financial prosecutor which could lead to up to €1.1BN fines

RAIDS: Prosecutors in France raided banks in the La Defense area of Paris today in a money laundering and tax fraud case. Photo shows daily life in the La Defense district and the towers and buildings of companies. Photograph by Martin Bertrand.