News

Sanctions Against Russia Expose Transaction Screening Problems in France

By Gabriel Vedrenne

Nearly 10 months after Western nations began imposing unprecedented commercial and banking sanctions on Russia for invading Ukraine, French regulators on Monday identified several challenges financial institutions have encountered in implementing the measures. "The Russian-Ukrainian crisis has led to more and more frequent designations, so the question has arisen as to the capacity of financial institutions to absorb the numerous, successive lists," Emilie Yustos, an inspector for the Autorite de controle prudentiel et de resolution, or ACPR, said Monday during the regulator's annual conference in Paris. ACPR began inspecting a cross-section of six banks and an insurance firm after the...

TO READ THE FULL STORY