Key Takeaways HSBC is likely to pay about $300M to settle French "Cum-Cum" allegations and end a criminal probe.The proposed deal includes repayment of related tax bills and aligns with HSBC's prior provision.French prosecutors will present the settlement soon, mirroring actions seen with Credit Agricole.HSBC Holdings PLC (HSBC) is likely to pay roughly $300 million to resolve its alleged involvement in the French “Cum-Cum” tax scandal, which has ensnared several major banks in the country. This was reporte ...

Core Viewpoint - HSBC Holdings is preparing to pay approximately $300 million to resolve a French criminal investigation related to its involvement in the "Cum-Cum" tax scandal [1] Group 1 - The settlement amount of around $300 million indicates the financial implications of the ongoing legal issues faced by HSBC [1] - The investigation pertains to allegations of HSBC's role in a tax evasion scheme known as the "Cum-Cum" scandal, which has significant legal and reputational consequences for the company [1]