BNP Fined EU10m by France Over Poor Controls on Money Laundering
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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BNP FP (BNP Paribas SA)
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UUID: 7947283
(Bloomberg) -- French banking regulator, Autorite de controle prudentiel et de resolution, or ACPR, fines BNP for failing to properly control and report suspicious transfers potentially linked to money laundering and terror financing.
- BNP’s control systems were audited by ACPR officials between June and Oct. 2015
- ACPR says it found BNP staff dedicated to declaring suspicious transactions “remained insufficient for a long time”
- BNP spokeswoman says bank completely overhauled its control systems and compliance in July 2014, increasing resources, improving training programs and introducing conduct code in 2015
- BNP says that the ACPR inspection found problems with transactions taking place between end of 2012 and start of 2014
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
BNP FP (BNP Paribas SA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283