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Reporting Financial Crime to Authorities in French Southern Territories: A Guide

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The detection of financial crime by tax authorities in the French Southern Territories can lead to criminal proceedings. In such cases, the authorities typically obtain an opinion from the Tax Offenses Commission before proceeding.

Understanding the Timeframe for Prosecution

It is essential to note that tax fraud can be prosecuted within six years from the year following the infringement. This means that if a tax offense was committed in 2022, the prosecution could still occur up to 2028.

Consequences of Financial Crime

Individuals found guilty of financial crime may face severe penalties, including:

• Fines: Up to €500,000
• Imprisonment: Up to five years

Aggravating Circumstances: Increased Penalties

In cases where the offense involves organized crime, fake identities or documents, or transactions with offshore organizations, the penalties can be significantly higher. The fine can increase to up to €3 million, and imprisonment can reach seven years.

Reduced Prison Sentences for Cooperation

Individuals who cooperate with authorities by identifying other perpetrators or accomplices may receive reduced prison sentences of up to half the original term.

Additional Penalties: Loss of Tax Benefits

In addition to fines and imprisonment, individuals convicted of financial crime may also face the withdrawal of tax reductions and credits on income and IFI for a maximum duration of three years. This penalty can be applied in cases of aggravated tax evasion, receipt of aggravated tax fraud, or laundering of aggravated tax fraud.

Considering Plea Bargaining

Individuals who acknowledge their guilt may be eligible for plea bargaining, where the public prosecutor proposes a prior conviction procedure, also known as appearing guilty.