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NEWS: Crédit Agricole hit with €1.5M fine by French ACPR for transaction monitoring issues

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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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The post NEWS: Crédit Agricole hit with €1.5M fine by French ACPR for transaction monitoring issues appeared first on AML Intelligence.

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