Luxembourg Times: The CSSF has fined BGL BNP Paribas €3m for lapses in its AML compliance

The €3m fine, issued in May followed an inspection at BGL BNP Paribas from May to November 2021. It is among the largest penalties by the CSSF, which fined Banque Internationale a Luxembourg €4.6m in 2020 for similar breaches. The bank also breached laws by terminating some business relationships, allowing clients to transfer assets without notifying authorities despite suspicions of ML…