July 21, 2017 / 4:55 PM / 8 months ago

French bank watchdog fines SocGen 5 million euros over anti-money laundering shortcomings

PARIS (Reuters) - French bank watchdog ACPR said on Friday it had fined Societe Generale (SOGN.PA) 5 million euros (4.49 million pounds) for a number of shortcomings in its controls for preventing money laundering and financing of terrorism.

FILE PHOTO: The logo of the French bank Societe Generale is seen in front of the bank's headquarters building at La Defense business and financial district in Courbevoie near Paris, France, April 21, 2016. REUTERS/Gonzalo Fuentes/File Photo

    The sanction followed a 2015 inspection of the bank, ACPR said in a statement.

    ACPR fined BNP Paribas (BNPP.PA) 10 million euros last month for insufficient anti-money laundering controls.

    Reporting by Maya Nikolaeva; Editing by Adrian Croft

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