PARIS: Panama Leaks crack down started in France.
French Tax Police searched Societe General’s Headquarters to find out any connection between offshore company holders and the bank.
It is claimed that Societe General set up 979 offshore companies with its name. Societe General denied its involvement with Mossack Fonseca and claimed that it committed to the fight against such activities.
Earlier this week, people held protest and barricade the entrance of Societe General Headquarter against its alleged involvement in the scandal.
French Finance Minister Michel Spain vowed for a detailed enquiry against Societe General since 2012 when it committed not to open any more offshore structures.
Source: www.fortune.com