Reuters - SocGen searched by tax police after Panama leaks

Tax & Business Calculator

French tax police searched Societe Generale's headquarters this week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said on Sunday.

Reuters reports that the searches on April 5 were a "normal development in the context of such an investigation", a spokesman for the bank said, declining to comment further.

According to the Journal du Dimanche newspaper, the searches were ordered to try to identify holders of offshore companies set up by the bank via Panamanian law firm Mossack Fonseca.

A leak of millions of files from the firm has cast a global spotlight on the creation of more than 200,000 companies in offshore tax havens, implicating scores of politicians and business figures.

Societe Generale was identified by Le Monde earlier this week as the fourth most prolific creators of offshore shell companies via Mossack Fonseca, with 979 to its name.

To access the complete Reuters article hit the link below:

Societe Generale headquarters searched in Panama probe

British banks' misconduct bill has reached nearly 53 billion pounds - study

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts