The Commission Nationale des Sanctions (National Sanctions Commission ) is responsible for dealing with any breaches of the law observed by customs services during inspections, and imposes the sanctions provided for in the Monetary and Financial Code.
This is indeed a sensitive subject, but it's important for everyone to be aware of the risks to which they are exposing themselves by choosing to apply the anti-money laundering directives only partially, or not at all.
In accordance with Article L. 561-40 of the CMF, the Commission Nationale des Sanctions may impose three types of administrative sanction:
a warning or reprimand ;
a temporary ban on carrying on business, which may go as far as withdrawal of authorization or professional card.
financial penalties of up to five million euros.
In principle, the Commission's decision is public and nominative, and published in a variety of media (newspapers, publications, etc.), the costs being borne by the persons sanctioned.
Lastly, the Commission imposes sanctions on directors in their personal capacity, as well as on other employees, agents or persons acting on behalf of the accused person, if their personal involvement in the breaches is proven.
In concrete terms, the overwhelming majority of sanction decisions imposed by the CNS actually combine all types of sanction: financial, prohibition of practice and publication of the company's name AND that of its executives in a personal capacity.
In order to impose the appropriate type and/or amount of sanctions, the National Sanctions Commission takes several factors into account, including the seriousness and duration of the breaches, the degree of responsibility of the perpetrator and the damage suffered by third parties as a result of the breaches.
Now that you've got the facts, it's easy to comply!