21 July 2017 - SocGen fined €5m for anti-terror failures

Société Générale
Source - http://www.france24.com/en/20170721-frances-socgen-bank-fined-over-anti-terror-lapses
Where - France
Cost - 5,000,000 EUR
Business line - Payments and Settlement

The French financial regulator, ACPR, has fined Societe Generale €5m for anti-money laundering and anti-terrorist financing failures, reports Reuters.

BNP Paribas was recently fined €10m over similar allegations from the regulator.

SocGen’s failures were identified during normal checks carried out by ACPR in 2015. The bank had not met its obligations to pass on information about certain transactions and operations to Tracfin, the governmental body responsible for monitoring money that could be used by terrorist organisations.