Luxembourg’s financial regulator, CSSF, has fined BGL BNP Paribas €3 million over gaps in the bank’s compliance with anti-money laundering laws, it said on Monday.
The fine, which was issued in May but details of which were only published on Monday, followed an inspection at the bank carried out from May to November 2021.
The fine is one of the largest ever issued by the Commission de Surveillance du Secteur Financier (CSSF), which imposed a €4.6 milllion penalty on Banque Internationale à Luxembourg (BIL) in 2020 for similar breaches of anti-money laundering and terrorist financing rules.
