Published by Global Banking & Finance Review®
Posted on December 8, 2025
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleSantander resolves a decade-long tax fraud case in France with a $26 million settlement, covering offenses from 2003 to 2010 at its Paris branch.
PARIS, Dec 5 (Reuters) - Spanish bank Santander has agreed to settle a tax fraud case opened in France in 2011 on with a payment of 22.5 million euros ($26.18 million), the Paris prosecutor said on Friday in a statement.
The settlement ends an investigation opened in 2011 after Santander flagged potential wrongdoings at its branch in Paris, the prosecutor Laure Beccuau said in the statement, which confirmed an earlier report by BFM TV station.
A judicial case started two years later over potential tax fraud, embezzlement and other offenses between 2003 and 2010, she added.
A Santander spokesperson said the bank had identified the issues 15 years ago and reported them back then.
The bank had provisioned for the settlement so it will not have an impact on its bottom line, he said.
"Santander remains committed to complying with the highest anti-money-laundering industry standards and regulations," he said.
($1 = 0.8595 euros)
(Reporting by Louise Breusch Rasmussen, editing by Inti Landauro)
Corporate tax is a tax imposed on the income or profit of corporations and businesses, typically calculated as a percentage of the company's earnings.
Anti-money laundering (AML) refers to laws and regulations designed to prevent the practice of generating income through illegal actions, ensuring financial institutions report suspicious activities.
Embezzlement is the act of wrongfully taking or misappropriating funds placed in one's trust or belonging to one's employer, often involving deceit.
Explore more articles in the Finance category
