French financial prosecutors say the Swiss-based HSBC Private Bank has agreed to pay 300 million euros ($352 million) to France to close a tax fraud case, a first in the country.
In a written statement, prosecutors said a Paris court on Tuesday approved the agreement under a 2016 anti-corruption law. Under this agreement, the bank acknowledges "the existence of the alleged facts."
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HSBC's Swiss bank was under investigation over helping clients to illegally avoid paying taxes worth 1.6 billion euros ($1.9 billion) to the French government in 2006 and 2007. A former HSBC employee gave the data to French authorities in 2008.
The bank has been investigated in several other countries, including Spain and Belgium, following the leak.