SocGen Fined in France Over Laundering, Terror-Funding Controls
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
GLE FP (Societe Generale SA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283
(Bloomberg) -- Societe Generale is fined EU5m by France’s banking regulator after on site review in 2015 of bank’s measures to report suspicious transactions to the French anti-money laundering supervising body known as Tracfin.
- Autorite de Controle Prudentiel et de Resolution says average delay in 2014 of about 145 working days to report suspicious transfers is “excessive”
- Societe Generale says in statement “fighting anti-money laundering is an absolute priority for the group to which it has always allocated important human, technical and financial resources”
- “Since the period under review, the bank has significantly enhanced its suspicious transactions reporting systems and strengthened its controls and procedures as acknowledged by the ACPR’s sanctions committee,” Societe Generale says
- Full ACPR decision (in French): https://tinyurl.com/yb3hq72t
- SEE: BNP Fined Over Flawed Terror- Funding Controls by French Watchdog
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
GLE FP (Societe Generale SA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283