BNP Paribas Fortis, the Belgian branch of the French group, has started a deep revision of its clientele. Between now and 2017, the bank has to re-evaluate the risk profile of more than 250,000 clients, companies or individuals, L’Echo reported on Wednesday. The business relations managers will receive lists of clients to re-evaluate in the next two months, according to an internal memo. They have to check the risk profile of these clients and determine the necessary action to take in the future and put an end to relationships that are judged unacceptable.
The aim is to protect the bank’s reputation by detecting laundering or terrorist financing. This operation aims to reinforce internal control, following an enormous fine (8.97 billion dollars) in June 2014. The fine came from the American justice system, for not respecting a US embargo on Sudan, Iran and Cuba.