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French prosecutors search banks over alleged dividend stripping

The French prosecutors' actions are the latest to hit global banks over the dividend tax fraud scheme as similar investigations have been conducted in Germany and other European countries. 

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French authorities on Tuesday searched the Paris offices of five banks, including Société Générale, BNP Paribas and HSBC, on suspicion of fiscal fraud, part of a broad European probe into the dodging of dividend tax payments, reports U.S. News & World Report.

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