Natixis SA’s offices in Frankfurt and Munich were raided as part of the sprawling German probe into the Cum-Ex tax dividend scandal that’s ensnared many of the world’s top banks.

Cologne-based prosecutors said on Tuesday they are searching offices of a French lender without disclosing the name. The step is part of a probe into four employees and have also raided homes of suspects. About 60 law-enforcement officers are involved. The searches targeted Natixis, according to people familiar with the matter.

Natixis’s press offices didn’t immediately reply to calls and an email seeking comment.

Cum-Ex was a trading strategy across Europe that siphoned off billions of euros in government revenue by taking advantage of tax laws that allowed multiple investors to claim refunds of tax on dividends that was paid only once. Germany moved to abolish the practice in 2012.

While dating back more than a decade, the scandal is still impactingg the financial industry. Prosecutors in Cologne are investigating about 1,600 people and are ramping up the pressure on international banks. A long list of institutions have been targeted by officials, including BNP Paribas SA, Bank of America Corp.’s Merrill Lynch, and Barclays Plc.