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France's Commission Nationale des Sanctions, or CNS, assessed a record fine of €240,000 against an unidentified luxury retailer in Paris amid a broader campaign to strengthen anti-money laundering enforcement in the country's non-financial sector. In a 15-page notice, CNS disclosed the fine and a 12-month suspended operating ban against the retailer for egregiously violating AML rules on eight occasions from 2019 to 2022. The fine surpasses the agency's previous record assessment of €216,000 against a non-financial business—in that case, a real estate agency—nine years ago. "The breaches take on a certain gravity due to their number and nature, [and] the...