Lhe record fine of 9 billion dollars (about 8.85 billion euros) imposed by the American regulator on BNP Paribas in 2014 for the violation of the embargo law on Iran, Cuba and Sudan is still present in many memoirs. The most knowledgeable remember, in 2018, the Societe Generale case, faced with allegations of corruption with the Libyan sovereign fund, which resulted in the payment of a penalty of 1.3 billion dollars to the authorities. Americans.
Between the two cases, which are hardly representative of the evolution of the penal response at the European and American level, there remains the message of an acceleration of the time taken to regulate the banking sector and, by extension, the financial sector.
The national and European supervisory authorities sanction the least resilient institutions in terms of preventing these offences, whether it is a question of abandoning the ethical field in the conduct of operations within their teams or the silence of the bank. on the existence of a suspicious or manifestly fraudulent transaction.
The vigilance expected is of a particular intensity, to the point that, sometimes, what is asked of the bank is to detect in the most insignificant transaction the sign of a potential offence.
Heavy with consequences, this vigilance sometimes leads banks to give up offering their services to customers located in a tax haven or in a territory in which thecorruption index is high.
Today, to meet these requirements, French banks spend an average of $24.8 billion. This amount, which increases by 15% per year, is divided between the training of teams, the audit of operations and the management of commercial relations.
A certain distrust was not long in being felt among the professionals. The latter consider compliance tasks as an administrative complication that slows down the time it takes to sign transactions and brings constraints in the choice of customers, partners or subcontractors.
It is therefore completely understandable to see banks turning to innovative digital solutions, the most interesting of which is artificial intelligence. Banks such as BNP Paribas, BPCE, Crédit Agricole SA, Crédit Mutuel, Société Générale and La Banque Postale claim to have smart compliance systems within their teams.
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