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

JULY 21, 2017

French bank watchdog ACPR said on Friday it had fined Societe Generale 5 million euros ($5.83 million) 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.