France: The company Dirham Express is fined 80,000 euros

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November 13 2017

The sanctions commission of the Prudential Supervisory Authority and Resolution (ACPR) condemns a payment institution to 80,000 euros fine for major deficiencies in its anti-money laundering and financing of terrorist activities.

In a decision of November 8, 2017 solidly detailed and argued, the ACPR imposed a penalty of 80,000 euros fine to the company Dirham Express. In detail, it is a payment institution registered in the United Kingdom, carrying out its remittance business – mainly cash to cash – from France to Morocco mainly.

The due diligence was aimed at compliance with the AML / CFT system put in place by the company, but beyond that “a particular point of attention was focused on the risk of terrorist financing” .