Presentation of AML-CFT checks and supervision
Pursuant to Article L. 561-36 et seq. of the CMF, among its other duties, the ACPR is responsible for monitoring the fulfillment by regulated persons of their respective European and national obligations as regards the prevention of money laundering and terrorism financing, as well as their obligations as regards asset freezing measures and European restrictive measures.
The ACPR carries out off-site inspections (for instance by assessing replies submitted by entities under its remit to money laundering and terrorist financing prevention questionnaires) and conducts on-site inspections.
The Sanctions Committee of the ACPR has the power to administer disciplinary sanctions. Where one of the persons subject to AML-CFT requirements has infringed a legislative or regulatory provision the ACPR is responsible for monitoring compliance with, the Sanctions Committee may impose one of the sanctions provided for in Article L. 612-39 et seq. of the CMF.
- Each year, the ACPR publishes a report, within which a section is dedicated to AML-CFT matters.
- Appraisal of on-site inspection missions conducted on compliance with AML-CFT obligations in the field of wealth management for the banking and insurance sectors (English version)
This document is the first formal and consolidated version of a study carried out by the French authorities on the threat posed by money laundering and the financing of terrorism. It results from inter-ministerial consulting work involving the main public stakeholders (in particular services of the ACPR) and private stakeholders in a collective effort to prevent and combat money laundering and the financing of terrorism. It is the first stocktake of the existing framework (2008-2010) and is intended to serve as the basis for further in-depth and regularly updated work to prepare a forward-looking, crosscutting threat analysis under the authority of the new French Anti-Money Laundering and Terrorist Financing Guidance Board (COLB).
At the international level, the ACPR is notably involved in the work led by the Financial Action Task Force on Money Laundering (FATF). Among other things, the ACPR contributed to written work on the revision of recommendations that were approved by the FATF in February 2012.
The ACPR also contributes to the work of a dedicated anti-money laundering and counter terrorist financing task force integrated to the Basel Committee and the International Association of Insurance Supervisors (IAIS).
At the European level, the ACPR participates in the Anti Money Laundering Committee (AMLC, former AMLTF), which reports to the Joint Committee of the three European authorities of the financial sector, the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA). The documents are available on their websites.
Updated on: 02/02/2023 17:32