German Finance Industry Faces $8 Billion Cost from Tax Fraud Investigation

German financial compliance investigation illustrating regulatory oversight, tax fraud review, corporate governance, and due diligence.

A new survey from Germany’s financial regulator, BaFin, estimates that financial institutions could face approximately €7 billion ($8 billion) in costs related to the long-running cum-ex and cum-cum tax fraud investigations. The findings involve dozens of banks, insurers, and financial firms that are alleged to have participated in dividend trading strategies designed to generate improper […]