Authorities raided the Paris offices of five banks Tuesday on suspicion of tax fraud, French prosecutors said. The raids come as part of five preliminary investigations opened in December 2021 on allegations of money laundering and tax fraud linked to dividend payments, the French National Financial Prosecutor’s Office said in a statement. Prosecutors didn't specify … Continue reading 5 French banks raided in alleged tax fraud investigation
There's fear that one of the biggest banking giants in the world HSBC may lose its US banking licence. This will depend on the reaction from the Oval Office regarding the bank's role in its overall banking activities on the Panama records. If the US government probes the bank and nails it for illegal … Continue reading HSBC May Lose its US Banking License for Links to Panama Papers Scandal
The HSBC, Royal Bank of Scotland and Barclays are reportedly set to close 400 UK branches this year. Reuters cited people familiar with the matter as saying that HSBC was set to close the highest number, with about 200 branches this year. That is about a fifth of the bank's UK branches and a third … Continue reading HSBC, RBS and Barclays To Close 400 Branches This Year.