By Elizabeth Hearst for AMLi
Global lender Crédit Agricole has been slapped with a €1.5M fine by France’s Autorite de controle prudentiel et de resolution (ACPR), after the regulator found that its transaction monitoring systems was based on an “incomplete set of scenarios”.
In a statement, the ACPR said that during an on-site inspection of CRCAM Languedoc, the inspection mission used the artificial intelligence tool, LUCIA, which enabled controllers to process large amounts of data.
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