News

Private banks and money exchangers in France submitted fewer reports of suspicious activity in 2018 while most other regulated businesses and professions significantly increased their filings, according to Tracfin, the nation's financial intelligence unit. Investment firms, accountants, auditors, corporate services providers and art dealers were also targeted with criticism in Tracfin's latest annual report, for either overlooking relevant data from their interactions with clients or showing a general lack of commitment towards meeting their anti-money laundering obligations. Despite those lags, the overall number of suspicious transaction reports, or STRs, still rose 11 percent from 2017 and 22 percent from 2016...