Particle.news
Download on the App Store
3 ARTICLES
·
last mo.

Cacib Pays €88.24 Million to Settle ‘CumCum’ Case After Paris Court Approval

The first French settlement in the dividend‑arbitrage affair increases pressure on other banks still under scrutiny.

La banque de financement et d’investissement du Crédit agricole a accepté de payer une amende de 88 millions d’euros pour obtenir l’abandon d’une enquête, d’après une audience devant le tribunal de Paris lundi 8 septembre 2025. Photo d’illustration.
La filiale du Crédit Agricole Cacib a accepté de payer une amende de 88,24 millions d'euros en échange de l'abandon des poursuites la visant dans l'affaire de fraude fiscale dite "CumCum" qui secoue le monde bancaire depuis 2018
Image

Overview

  • Cacib’s Convention Judiciaire d’Intérêt Public with the financial prosecutor was signed Friday and validated Monday by the president of the Paris tribunal.
  • The deal covers aggravated money laundering of aggravated tax fraud tied to repeated dividend‑arbitrage schemes, with prosecutors counting 2,500 operations from 2013 to 2021 that generated about €50 million in profit.
  • The bank acknowledged the facts and was praised by prosecutor Jean‑François Bohnert for the quality of its cooperation during the investigation and negotiation.
  • Cacib said it ended the practices, ran an internal probe, instituted weekly controls, and has already paid €46 million in back taxes and penalties across three tax settlements.
  • The Parquet National Financier’s wider inquiries target six banks in total, with the other five reported by a source as BNP Paribas, Exane, Société Générale, Natixis, and HSBC, while the economy minister recently cited €4.5 billion in ongoing tax adjustments against five institutions.