This is the best tl;dr I could make, original reduced by 59%. (I'm a bot)

> PARIS - Authorities raided the Paris offices of five banks Tuesday on suspicion of tax fraud, French prosecutors said.

> The raids come as part of five preliminary investigations opened in December 2021 on allegations of money laundering and tax fraud linked to dividend payments, the French National Financial Prosecutor's Office said in a statement.

> The raid comes amid global financial turmoil unleashed this month by the collapse of two U.S. banks and the government-orchestrated takeover of troubled Swiss lender Credit Suisse by its rival UBS. ADVERTISEMENT. The French investigation involved "Cum cum" deals in which a foreign shareholder of a company listed in France transfers its shares to a French bank around the time that dividends are paid out to avoid paying capital gains tax.

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