10 lessons to learn from the ACPR decision regarding BMW finance
On May 16, 2023, the French financial regulator announced a fine against BMW Finances for issues relating to KYC and KYB. Here is our take to help professionals understand the matter.
Similar to the AXA Banque and Nickel settlements a few months ago, the ACPR found that being part of a large group was an aggravating circumstance in the failure to remediate AML-CFT breaches promptly.
Share