Stock Markets April 1, 2026

France Links Foiled Paris Attack on Bank of America to Pro-Iranian Group HAYI, Probe Ongoing

Authorities say a propaganda video and modus operandi point to HAYI, but formal attribution has not been established

By Avery Klein BAC
France Links Foiled Paris Attack on Bank of America to Pro-Iranian Group HAYI, Probe Ongoing
BAC

French anti-terrorism prosecutors are investigating a thwarted March 28 attack on Bank of America’s Paris offices and say evidence points toward a pro-Iranian group known as HAYI. Prosecutors cited a March 23 propaganda video that named the bank and said the device recovered was the most powerful pyrotechnic device of its kind found in France. Four people have been placed under formal investigation as authorities work with European counterparts to identify the attack’s masterminds.

Key Points

  • French anti-terrorism prosecutors suspect the pro-Iranian group HAYI of being linked to the foiled March 28 attack on Bank of America’s Paris offices, though formal attribution has not been established.
  • Investigators found a five-litre petrol can attached to a large pyrotechnic charge containing a 650-gram active-material cylinder with a fuse; police described it as the most powerful pyrotechnic device of its kind identified in France to date.
  • Four suspects - three minors and one adult - are under formal investigation; prosecutors say the adult recruited the teenagers and paid them between 500 and 1,000 euros to carry out and film the operation. Authorities are working with counterparts in Belgium, Germany and the Netherlands to identify the masterminds.

French anti-terrorism authorities said on Wednesday they suspect a pro-Iranian militant group called HAYI was behind an attempted attack foiled at Bank of America’s Paris offices, while stressing that a formal link has not yet been legally established.

HAYI, an acronym for Harakat Ashab al-Yamin al-Islamiyya or Movement of the Companions of the Right Hand of Islam, posted a propaganda video on social media on March 23 that targeted Jewish interests and communities in France and elsewhere in Europe, prosecutors said. The statement added that the video explicitly named Bank of America’s Paris headquarters in the capital’s 8th district as a target.

"In light of the aforementioned video targeting this U.S. bank and the modus operandi observed in similar operations across several European countries, this attack... appears to be linked to the HAYI group, although this has not yet been formally established at this stage of the proceedings," the prosecutor's office said.

The Iranian embassy in France did not immediately respond to a request for comment. The embassy had also declined, over the preceding weekend, to comment on remarks from French Interior Minister Laurent Nunez that pointed to possible Iranian involvement.

Forensic investigators described the device recovered after the March 28 incident as a five-litre petrol can taped to a large pyrotechnic charge. Inside the device was a 650-gram active-material cylinder fitted with a fuse, the prosecutor’s office said. Paris police characterized the device as the most powerful pyrotechnic device of this type identified in France to date.

Authorities have placed four suspects under formal investigation in connection with the case - three of them minors and one an adult. A fifth individual was released after investigators concluded there was insufficient evidence to pursue formal charges.

Prosecutors said investigators used CCTV footage, phone data and police interviews to reconstruct elements of the plot. According to their findings, the adult suspect recruited three teenagers between the nights of March 26 and 27 and paid them amounts ranging from 500 to 1,000 euros to plant the device, ignite it and record the scene. The euro amounts correspond to approximately $580 to $1,160 using the exchange rate cited by authorities.

All four people placed under investigation have denied having terrorist intent, the prosecutor’s office said. The minors did acknowledge, however, that they were aware the chosen target was not a residential building.

French anti-terrorism prosecutors said they are coordinating with counterparts in Belgium, Germany and the Netherlands regarding a series of incidents in Europe during March that authorities consider to be linked to HAYI. The immediate investigative priority, prosecutors added, is to identify the individuals who planned and directed the attempted attack.


Exchange rate note: $1 = 0.8618 euros.

Risks

  • Uncertainty over formal attribution to HAYI - investigators have cited links but have not legally established the group’s responsibility, creating prosecutorial and intelligence risks for ongoing cooperation across European jurisdictions. (Impacted sectors: security, government)
  • Potential for further coordinated incidents across Europe - prosecutors are investigating related events in multiple countries, which could sustain heightened security measures and operational risk for financial institutions and public spaces. (Impacted sectors: banking, real estate, public services)
  • Legal and evidentiary limitations - a fifth person was released for lack of evidence and all four suspects deny terrorist intent, highlighting challenges in converting investigative leads into prosecutable cases. (Impacted sectors: judicial, law enforcement)

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