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French bank fined nearly $6 million over lapses to prevent money laundering

Posted On: Jul. 24, 2017 4:00 AM CST

France's banking regulator has fined French financial services firm Societe Generale Group €5 million ($5.8 million) over lapses in its measures to prevent money laundering that could finance terrorism, reported. The punishment was for a number of failings picked up during regular checks carried out in 2015, said the Autorite de controle prudentiel et de resolution.

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