French authorities search 5 banks in Paris in tax fraud case

PARIS (AP) — French prosecutors say authorities have raided the Paris offices of five banks on suspicion of tax fraud. Prosecutors say the raids Tuesday are part of five preliminary investigations opened in December 2021 on allegations of money laundering and tax fraud linked to dividend payments. They didn’t specify which banks were raided. French media said the banks searched included HSBC, BNP Paribas, Exane — a subsidiary of BNP — Societe Generale, and Natixis. Societe Generale has confirmed the investigation at its office but declined to comment further. Messages seeking comment from the other banks weren’t immediately returned.