French Criminal Court Imposes Blockbuster Fine for Tax Fraud Related Offences

21 February 2019
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Key takeaways:
  • Paris criminal court imposed a €3.7 billion fine on a bank for illegal solicitation of financial services and aggravated laundering of the proceeds of tax fraud.
  • This largest-ever fine imposed by a French criminal court constitutes the biggest victory for the French National Financial Prosecutor’s office.
  • Given the magnitude of the fines, companies may now be more likely to consider French-style DPAs.