Featured France

French watchdog slaps Google with $57M fine under new EU law

AP — France’s data privacy watchdog fined Google 50 million euros ($57 million) on Monday, the first penalty for a U.S. tech giant under new European data privacy rules that took effect last year. The National Data Protection Commission said it fined the U.S. internet giant for “lack of transparency,… Read More

Danske Bank faces €28 million money laundering probe in France

French authorities are considering launching an investigation into scandal-hit Danske Bank over violating anti-money laundering rules involving transactions worth millions of euros. In recent days, the French Tribunal de Grande Instance de Paris Court issued Danske with a letter summoning it to an interview to discuss matters relating to an… Read More

Investor Browder asks France to investigate Danske in Magnitsky case

Bill Browder, founder and CEO of investment fund Hermitage Capital Management, said on Thursday he had asked French authorities to investigate Danske Bank over alleged money laundering, rather than treating it as a witness. Danske Bank (DANSKE.CO) is already under investigation by authorities in Denmark, Estonia, Britain and the United… Read More
1st January 2019
The French government is cracking down on business chiefs of companies listed in France to make sure they are paying their taxes in France, Budget Minister Gerald Darmanin said in a newspaper interview on Sunday. President Emmanuel Macron had already signalled a hardening stance on corporate tax affairs in a… Read More
31st December 2018
AP — Alexandre Benalla hasn’t finished causing trouble for the French president. Emmanuel Macron’s former security aide is again at the heart of a political scandal, just as the president is struggling against yellow vest protests that have undercut his legitimacy at home and abroad. Benalla,… Read More
22nd November 2018
AP – A French banker on trial for money-laundering in Greece over arms procurements went missing from home arrest on Tuesday after breaking his electronic tag, the Greek justice ministry said. Jean Claude Oswald, who is among defendants facing charges related to kickbacks paid for the acquisition of submarines by… Read More
22nd November 2018
A tale of drug money laundering spanning from the crowded streets of Casablanca to the pristine shores of Lac Leman, Geneva, has finally come to its conclusion in the courts in Paris – and an epilogue yet to play out in French prison. The story begins almost a decade earlier… Read More
20th November 2018
French lender Societe Generale has been hit with a number of fines and actions by various US departments over allegations it breached financial crime rules. The US Treasury’s Office of Foreign Assets Control, Fed Reserve, the New York County District Attorney’s Office and the New York Department of Financial Services… Read More
9th November 2018
French prosecutors argued in a Paris court on Thursday for Swiss bank UBS AG (UBSG.S) to be fined 3.7 billion euros (3.22 billion pounds) for helping wealthy French people evade taxes. After a seven-year investigation and aborted settlement negotiations, UBS faces accusations of laundering the proceeds of tax fraud and… Read More
19th October 2018
A special unit designed by the European Union to enable its firms to continue trading with Iran despite US sanctions could also be used by the bloc to avoid other US sanctions. The Special Purpose Vehicle (SPV) is set to launch in November this year. A French foreign ministry spokeswoman… Read More
9th October 2018
Swiss bank UBS Group and six of its executives faced trial in France on Monday over charges of money laundering and tax evasion. The charges, which were also brought against UBS’ French unit, originate from a report by employee Bradley Birkenfeld which detailed a scheme to help rich clients funnel… Read More
9th October 2018
AP — Chinese authorities scrambled to contain a public relations mess over the disappearance of the former Interpol president during his trip home to China, saying Monday that he was being lawfully investigated for bribery and other crimes. But the government’s announcement did little to address… Read More
4th October 2018
A famous gangster who escaped Hollywood-style from a French jail by helicopter was captured on Wednesday after a three-month hunt that led police [to] a tower-block flat in an area where the man known as the “jailbreak king” grew up. Redoine Faid, who has said his life of crime was… Read More