The Minister of Finance imposed an administrative fine on Credit Agricole Bank Polska in the amount of PLN 7 million – it was reported on the Ministry of Finance website on Thursday. The bank violated its obligations regarding counteracting money laundering and terrorist financing.
Information about the issuance of the final decision on the administrative penalty imposed by the Minister of Finance appeared on Thursday on the website of the Ministry of Finance. We learn from the announcement that it was imposed as a result of the bank’s violation of its obligations under the Act on Counteracting Money Laundering and Terrorism Financing.
Credit Agricole with a penalty for violating regulations
The bank, whose Polish branch is based in Wrocław, breached five obligations. They were detailed in the message, hence we know that they consisted of:
1) ensuring the participation of persons performing duties related to counteracting money laundering and terrorism financing in the training programs referred to in Art. 52 of the Act,
2) applying enhanced financial security measures in the case referred to in Art. 46 section 2 point 1, section 2 points 2 and 3 of the Act,
3) transfer of information referred to in Art. 76 of the Act,
4) transfer of information referred to in Art. 72 of the Act,
5) application of enhanced financial security measures in the case referred to in Art. 43 of the Act.
Inspectors from the ministry found violations, among others: the obligation for persons performing duties related to counteracting money laundering and terrorism financing to participate in training programs, as well as a violation of the obligation for institutions to provide the Inspector General with the indicated information.