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Banking   The sanction followed a 2015 inspection of the bank

French watchdog fines Societe Generale 5m euros over anti-money laundering shortcomings

Societe GeneraleFrench bank watchdog ACPR said it had fined Societe Generale 5 million euros ($5.83 million) for a number of shortcomings in its controls for preventing money laundering and financing of terrorism.

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READ MORE Societe Generale to pay 450,000 euro fine for compliance breaches in research notes

The sanction followed a 2015 inspection of the bank, ACPR said in a statement.

ACPR fined BNP Paribas 10 million euros last month for insufficient anti-money laundering controls.

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