After assessing a €2 million fine against American Express, France's Autorite de Controle Prudentiel et de Resolution, or ACPR, is now sounding the alarm on banks outsourcing their anti-money laundering tasks without monitoring how their contractors implement them.
French authorities have snared a gang of six that allegedly stole €12 million in COVID-19 unemployment benefits and laundered the funds through foreign bank accounts and cryptocurrencies, Europol, the EU's law enforcement agency, disclosed Wednesday.