The ACPR in France has today announced the imposition of a fine of €50m against Banque Postale.
This is the largest fine imposed in France to date.
The fine was imposed for sanctions compliance failings and in particular the ability of designated persons to transfer funds through Banque Postale, even when not a customer, by “money order”.
Banque Postale has indicated an intention to appeal the fine.
It has been announced that the French authorities have charged Lafarge-Holcim, its Syrian subsidiary with offences including breaching EU anti-terrorism sanctions.
The companies were also charged with crimes against humanity.
Eight individuals, including senior management, had earlier been charged (see here).
An investigation has been initiated by the Paris High Court in relation to sales of intelligence and surveillance equipment to Egypt by Nexa Technologies.
The investigation follows charges brought filed by two French activist groups – the Foundation Internationale des Ligues Droits de L’homme and the Ligue Droits de L’Homme – with the Crimes Against Humanity division of the High Court.
The French authorities have charged former Lafarge-Holcim CEOs, Eric Olsen and Bruno Lafont as well former deputy managing director Christian Herrault, along with 5 other individuals on suspicion of making payments in breach of EU sanctions to terrorist groups in Syria, and crimes against humanity.
The French authorities have conducted raids on the Paris offices of Lafarge-Holcim as part of the ongoing investigation into payments alleged to have been made in breach of the EU’s terrorist sanctions.
Lafarge-Holcim has confirmed it is cooperating with the investigation.
It was reported today that the French authorities have commenced an investigation into the cement company Lafarge-Holcim with regards to payments made relating to its Syrian manufacturing operations that are alleged to be payments made to designated persons under the EU’s terrorist financing and ISIS sanctions.
