Société Générale offices raided in France and Luxembourg over suspected money laundering

Société Générale offices in France and Luxembourg were raided on Tuesday as part of a sweeping investigation into suspected money laundering, a judicial source confirmed to AFP, following earlier reports by Le Monde.

Four individuals – including senior executives at the bank – were taken into police custody and their homes searched, the source said.

The raids are part of a probe launched in January 2024 by France’s Parquet National Financier (PNF), examining whether Société Générale set up and operated tax-driven structures for major French companies, according to the judicial source.

Authorities allege the offences under investigation – aggravated money laundering of tax fraud and criminal association – may have been committed since 2009 in France and abroad, particularly in Luxembourg. The case is separate from another ongoing inquiry into a tax avoidance scheme.

Tuesday’s operation involved 80 investigators across France and other countries, alongside 11 judges and specialist assistants from the PNF.

Société Générale declined to comment when contacted by the Luxemburger Wort this afternoon.

(This article was originally published by the Luxemburger Wort. Translated using AI, edited by Kabir Agarwal.)