France: ACPR Publishes Report on AML/CTF System of Actors of Transmission of Funds

On October 3, 2019, the French Prudential Regulatory Authority (ACPR) published a report on the anti-money laundering/counter-terrorism financing (AML/CTF) system of actors of transmission of funds.

As indicated by the report, money remittance activity is predominantly carried out by payment institutions rather than credit institutions in France and are either under the supervision of the ACPR or have been established under a European passport. Some 20 institutions carry out remittance services in France; however, four of these handle around 90 percent of the remittance flow. 

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