Fight against money laundering and terrorist activities (AML)**

Follow-up of legislative and regulatory amendments introduced in the fight against money laundering and terrorist financing and subsequent updating of procedures within Société Générale Group.

2009 saw the promulgation, on January 30, 2009, of Order No. 2009-104 governing the prevention of the use of financial systems for money laundering and terrorist financing, which transposes the 3rd European Directive.
The implementing decrees and orders were also promulgated over the year:
  • Decree No. 2009-874 of July 16, 2009, implementing article L. 561-15-II of the French Monetary and Financial Code, defining the 16 criteria for sums or transactions likely to result from tax fraud,
  • Decree No. 2009-1087 of September 2, 2009, relating to duties of vigilance and disclosure in the prevention of the financial system’s use for money laundering and terrorist financing,
  • Order of September 2, 2009, which defines the information linked to KYC (Know Your Customer) measures and business relationships required to assess money laundering and terrorist financing risks,
  • Order of October 29, 2009, which provides information relating to the internal control of credit institutions and investment firms (amendment to regulation No. 97-02 of February 21, 1997).
Société Générale Group has participated in a series of market think tanks and conferences organised by the FBF, the AMAFI, TRACFIN and the DGPTE, on drafting regulations, adapting and introducing new means for declaring suspicions transactions to TRACFIN and changes to the Questionnaire Lutte contre le Blanchiment (QLB) anti-money laundering questionnaire.
It also contributed to the creation of a new anti-money laundering and counter-terrorist financing training application, as part of a market-wide project involving 9 banks headed up by the CFPB (Training Centre for the Banking Industry) with the help of the FBF, the AMAFI and TRACFIN.
Internally, Société Générale Group continued with measures to reinforce and structure its anti-money laundering and counter-terrorist financing system and has begun adapting its procedures and tools as new laws and regulations have been introduced.
See also :
Anti-Money Laundering Certificates
Patriot Act
Wolfsberg Questionnaire

** In line with our Global Compact commitments