July 31, 2018 / 5:08 PM / in 4 months

Insurer CNP fined 8 mln euros over compliance breaches

PARIS, July 31 (Reuters) - France’s banking and insurance regulator imposed an 8 million euros ($9.4 million) fine on insurer CNP for breaches in preventing money laundering and failures in preventing the financing of activities deemed to be linked to terrorism.

The regulator said it made the decision based on controls carried out between December 2014 and February 2016, while adding that CNP had since announced a series of measures to resolve those issues.

CNP said in a separate statement that it would not appeal against the decision, but added it already taken new steps to tackle those areas, such as setting up new training courses for staff to make them aware of such risks.

$1 = 0.8545 euros Reporting by Inti Landauro; Editing by Sudip Kar-Gupta

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