Eyes on the banks. The ECB warns: “High uncertainty”
According to the French newspaper Le Monde, HSBC Holdings Plc, BNP Paribas SA, Societe Generale SA and Natixis are allegedly involved
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The French financial prosecutor (Pnf, equivalent of the Italian Guardia di Finanza, ndr) is searching five banks as part of a tax fraud and money laundering investigation. It can be read in a note. The investigation concerns banks located in Paris and in the La Défense district, according to the statement. Although the financial prosecutor did not reveal which banks were involved, the newspaper Le Monde named HSBC Holdings Plc, BNP Paribas SA, Societe Generale SA and Natixis as part of the investigation. The companies involved were not specified. Societe Generale SA said its French headquarters were raided in connection with the investigation.
The PNF said five investigations were underway linked to practices whereby wealthy clients sought to evade dividend taxes through complex legal structures. “The ongoing operations, which have required several months of preparation, are being conducted by 16 investigating judges and over 150 investigative agents,” the PNF said in a statement.
(Article being updated)
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