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.
Aymeric Boëlle

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.