On 21 May, KYC 360 reported that BNP Paribas SA had been charged in France over accusations it laundered money stemming from corruption and embezzlement in a case over alleged ill-gotten assets linked to Gabon.  This follows an investigation into the French wealth of the family of the late Gabonese president, Omar Bongo.  It is said that BNP is suspected of having failed in its due diligence obligations because it didn’t report to authorities a suspicious bank account where tens of millions of euros were allegedly used by the Bongo family to acquire real estate in France.

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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

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