BANQUE POSTALE IN FRANCE FINED FOR TERROR FUNDING SHORTCOMINGS

In his blog on 26th December, Kenneth Rijock reports that the authorities in France had imposed a €50 million civil penalty upon la Banque Postale, the financial division of the national postal service.  This was ordered after the regulator identified 75 transfers between 2009 and 2017 and involving individuals whose assets were frozen, pending ongoing anti-terror investigation.  He reports that Banque Postale policies previously permitted individuals to transfers funds even if they did not have an account at the bank, but this national cash transfer service was cancelled in January 2018.  The regulator stated that the people who made the funds transfers had their assets frozen after they either participated in terrorist activity, or violated international law.

http://rijock.blogspot.com/2018/12/frances-banque-postale-fined-50m-for.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s