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MidWeek Roundup: Swiss Lawmakers Approve New Dent in Bank Secrecy, Société Générale Discloses Possible AML Fine, and More
printFrance's ACP has identified possible anti-money laundering (AML) and counterterrorism financing violations at Soci?©t?© G?©n?©rale, the bank disclosed in regulatory filing reported on by Reuters. The regulator is investigating possible breaches in the bank's know-your-customer procedures and poor due diligence controls, which could result in a fine, the news agency said. More In August, the U.S. Office of Foreign Assets Control fined Soci?©t?© G?©n?©rale $111,000 over Iranian sanctions violations. More Switzerland's lower house approved an amendment Monday that could simplify tax information exchanges with the United States, the Financial Times reported. The legislation would allow U.S. officials to obtain data...
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