July 21, 2017 / 4:55 PM / 6 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.

    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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