In the US, the collateral consequences of noncompliance with AML laws and regulations may include seizure and forfeiture of funds.  Depository institutions may also be subject to restrictions on growth and expansion and may even have their charters and licenses revoked.

In the UK, confiscation proceedings to disgorge the proceeds of crime would likely follow any conviction, whether of an individual or a company.  A corporate entity convicted of an offense could also face debarment from public contracts under the Public Contracts Regulations 2015.

A person in the regulated sector who contravenes a requirement imposed under the Money Laundering Regulations 2017 is also guilty of a criminal offense, and could receive a sentence of up to two years’ imprisonment, or a fine, or both.

Regulatory sanctions that could be imposed on a company by a supervisory authority such as the FCA include a financial penalty and/or a restriction on the firm’s ability to carry out regulated activities, such as a ban on accepting deposits from new customers for a certain period of time.

Regulatory sanctions that could be imposed on an individual in the regulated sector include a financial penalty, suspension, and a prohibition from performing functions related to regulated activities.

In France, the Supervisory Authorities responsible for monitoring compliance with anti-money laundering obligations (AMF, ACPR, National Enforcement Commission, etc.) can take administrative enforcement measures and impose penalties.

Any person (whether an individual or a legal entity) convicted of money laundering in the last five years will be banned from participating in public tenders in France.

French individuals risk the following additional penalties (Art. 324-7 of the French Criminal Code):

  • A ban, temporary (up to five years) or permanent, from holding a public office or conducting a professional or social activity in or during the exercise of which the offense was committed, or to carry out a commercial or industrial role, to direct, administer, manage or control in any capacity whatsoever, directly or indirectly, for the benefit of themselves or for others, a commercial or industrial enterprise or a commercial company;
  • Ban from possessing or carrying a licensed weapon for up to 5 years;
  • Ban from writing checks or using payment cards for up to 5 years;
  • Driving license suspended for up to 5 years;
  • Driving license withdrawn and ban on retaking a new license for 5 years;
  • Confiscation of one or more vehicles or firearms;
  • Confiscation of the object that was used or intended to commit the offense;
  • Removal of civic, civil and family rights;
  • Residency ban;
  • Ban, for up to five years, from leaving French territory; and
  • Confiscation of all or part of their assets.

Foreign nationals can be permanently banned (Art. 131-30) or temporarily banned for up to 10 years (Art. 342-8) from French territory.

French legal entities are liable to the additional penalties (Art. 324-9 of the French Criminal Code) listed in Art. 131-39 of the French Criminal Code, including:

  • Dissolution, where the legal entity has been specifically created to commit the offense, created or, in the case of an offense where natural persons would face a prison term of three years or more, diverted from its purpose to commit the offense;
  • Permanent or temporary (for up to five years) ban from directly or indirectly conducting one or more professional or social activities
  • Judicial monitoring for up to five years;
  • Permanent closure for up to five years of the establishment(s) used to commit the offense;
  • Permanent or temporary exclusion (for up to five years) from public procurement contracts;
  • Permanent or temporary ban (for up to five years) from making a public tender offer for financial securities or admitting financial securities from trading on a regulated market;
  • Ban for up to five years from issuing checks or using payment cards;
  • Confiscation of assets; and
  • Publication of the court judgment.
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