It was reported today that the Paris Court has dropped charges against Nexa Technologies, and four of its management, in relation to the sales of surveillance equipment to Egypt.
We had earlier reported on the commencement of the investigation.
France – seizure of vessel alleged to be owned by sanctioned Russian bank
The French authorities have seized the cargo ship, Baltic Leader, claimed to be owned by sanctioned Russian bank Promsvyazbank.
The vessel was headed to Russian but seized in the channel.
France – Council of State upholds €50m fine for bank’s sanctions compliance failings
The French Council of State has today dismissed the appeal by Banque Postale against the fine of €50m imposed by the regulator, the ACPR.
The fine was imposed for EU sanctions compliance failings which had permitted designated persons subject to asset freezes to still transfer funds through the use of “money orders”.
This is the largest fine imposed by the French authorities.
See our earlier post in relation to the original fine.
France – banking regulator finds breaches but does not fine
The Sanctions Commission of the French Banking Regulator (the ACPR) has published its decision from disciplinary proceedings against Raguram International.
Between 2015 and 2017, Raguram had failed to conduct KYC on its customers and failed to incorporate the lists of EU sanctioned persons into its systems and controls framework.
At the time Raguram had not recognised that its controls environment was defective, but it had subsequently implemented stricter policies and procedures and purchased a compliance solution.
As a result of these steps no fine was imposed.
France – bank fined €50m for sanctions compliance failings
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.
France – Lafarge-Holcim charges brought
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).
Paris court opens investigation into technology sales to Egypt
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.
France – eight individuals charged in Lafarge-Holcim investigation
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.
France – investigators raid Lafarge-Holcim
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.
France – investigation commenced into allegations of terrorist financing
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.