July 21, 2017 / 4:55 PM / 2 years ago

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

A view shows the logo on the headquarters's of French bank Societe Generale at the financial and business district of La Defense, west of Paris, France, April 18, 2017. REUTERS/Benoit Tessier

PARIS (Reuters) - 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.

ACPR fined BNP Paribas 10 million euros last month for insufficient anti-money laundering controls.

Reporting by Maya Nikolaeva; Editing by Adrian Croft

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