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Bank of China's payment of nearly €4 million to settle charges of laundering the proceeds of tax fraud and other crimes in France could spur similar settlements of cases against banks in the country, sources told ACAMS moneylaundering.com. On Tuesday, prosecutors in Paris disclosed a "convention judiciaire d'interet public," or CJIP, with the Beijing lender for processing nearly €40 million of suspicious funds involving 168 accounts in China from 2012 to 2014, without properly vetting the clients involved or their transactions. French CJIPs came into force in December 2016 and have been used eight times prior to BoC, including once...