Credit Agricole shares drop on money laundering allegations report
07 Mar 2019

Shares in French bank Credit Agricole fell by more than 2 percent on Wednesday, with traders saying the drop was linked to media reports about a money laundering network alleged to have channeled billions of euros from Russia.

Two traders linked the drop to a report in French newspaper Les Echos, which said Credit Agricole, through its private banking subsidiary Indosuez, was among the banks mentioned in a report by a collective of European news outlets called the Organized Crime and Corruption Reporting Project (OCCRP).

A spokeswoman for Credit Agricole said its Indosuez unit has “fulfilled all its obligations regarding anti-money laundering” when asked about the case.

By Danilo Masoni and Sudip Kar-Gupta, Reuters, 6 March 2019

Link to Reuters

Advance your CPD minutes for reading this article, by signing up and using the CPD Wallet

No Responses to “Credit Agricole shares drop on money laundering allegations report”

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.