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French regulator fines BNP Paribas for inadequate anti-money laundering controls

French regulators have handed BNP Paribas SA a fine for shortcomings in its anti-money laundering controls, Reuters reported June 2.

The Autorité de Contrôle Prudentiel et de Résolution, or ACPR, imposed a €10 million penalty on the bank, following a probe in 2015, the newswire said, citing the regulator.

The probe found that, at the time, the lender did not have enough staff responsible for detecting and reporting suspicious transactions and did not have efficient systems to identify unusual customer transactions.

BNP Paribas, which was fined roughly $9 billion by the U.S. Department of Justice in 2015 for violating U.S. sanctions against Sudan, Cuba and Iran, declined to comment on whether it would appeal the ACPR's decision or pay the fine. The French lender has two months to contest the decision, according to Reuters.