#Ethics & compliance:
AML-CFT: activity of reporting professions – 2023 Review
Tracfin has just published its 2023 report on the reporting activity of professions subject to the fight against money laundering and terrorist financing. A new record was set with 190,654 reports of suspicious financial activity. This 15 % increase compared to 2022 and the sevenfold increase over ten years have been made possible notably by the importance of collaboration with the private sector and the new version of the online suspicious form, developed with professionals from various sectors. > Read article
#Banking, financial and financial markets:
Fight against money laundering: fine of one million euros for a subsidiary of Société Générale
The sanctions committee of the ACPR imposed a fine of one million euros on Treezor, a subsidiary of Société Générale, on Tuesday, 18 April, due to “very serious shortcomings” in fight against money laundering and terrorism financing. The authority responsible for overseeing banks and insurance companies considers that these shortcomings significantly affected many fundamental elements of the company’s anti-money laundering and counter-terrorism financing framework. As a subsidiary of Société Générale since 2019, Treezor has been one of the pioneers in the practice of banking-as-a-service in France. > Read article
#White collar crime:
The former director of Sciences Po Aix sentenced to suspended prison sentence: what we know about this case
The former director of Sciences Po Aix was sentenced on Tuesday 16 April, to 18 months in prison (avec sursis). His deputy was also sentenced to nine months prison sentence (avec sursis). They will both have to pay 30,000 euros in damages to the IEP (Institut d’Études Politiques) of Aix-en-Provence. The director and his deputy were prosecuted for “fraudulent provision of administrative documents” and “fraud” in the context of doubtful partnerships generating questionable diplomas established with foreign private schools and French training centers. > Read article
Anglet: Russian businessman’s villa seized on suspicion of money laundering
The Art Deco villa “Souzanna” located in Anglet was seized as part of an investigation into suspicions of aggravated money laundering on 6 December 2023. In 2022 a complaint was filed by Transparency International, following the beginning of war in Ukraine, targeting four Russian oligarchs or individuals close to oligarchs. The seized villa is said to belong to Russian businessman Arthur Ocheretny, the new partner of Lyudmila Putin, Vladimir Putin’s former wife. Activists are calling for the confiscation of the property for the benefit of the Ukrainian people. > Read article
