in France, a branch of BNP Paribas bank is suspected of money laundering – Kommersant

In June, a preliminary investigation began in France against a branch of the BNP Paribas bank – NP Paribas Securities Services – and a brokerage company TCR International Limited registered in Cyprus. An investigation is being conducted into money laundering, the newspaper reported. Le Monde with reference to the Paris prosecutor’s office.

According to Le Monde, we are talking about several “suspicious financial transactions” between 2019 and 2021 through the Cyprus-based TCR International Limited. The company carried out investment transactions on behalf of clients with the help of BNP Paribas Securities Services. A branch of a French bank, the newspaper writes, in 2019-2022 provided the broker with custodial services – storage of securities and other financial assets.

According to the prosecutor’s office, during the specified period of time several hundred million euros and dollars passed through the accounts of the Cypriot company. Such an amount may be considered to be of “potentially questionable origin.” Le Monde notes that we are talking about more than €220 million.

BNP Paribas is a French financial conglomerate, ranked ninth among the world’s largest banks by assets. TCR International Limited is a brokerage firm that sells investment advisory services in the financial markets. The US Department of Justice is also investigating the firm’s “suspicious transactions”.

Lusine Balasyan