France's banking and insurance supervisor, the Autorité de Contrôle Prudentiel et de Résolution, imposed a formal reprimand and a €600,000 financial penalty on Banque Delubac & Cie in a decision dated 19 June 2025 and announced on 26 June 2025, following a determination by the ACPR's Sanctions Commission that the bank's anti-money laundering and counter-financing of terrorism controls contained material deficiencies. The regulator confirmed the decision in a press release published on its website.
The Sanctions Commission identified failures across several dimensions of the bank's financial security framework. Banque Delubac's automated transaction monitoring system was found to be incapable of accounting for all of the information necessary to identify atypical client operations. The bank also failed to process internal alerts within the mandatory deadlines set by French regulatory requirements, and it did not inform Tracfin, France's financial intelligence unit, of certain transactions without delay as required. The Commission also found shortcomings in enhanced and additional due diligence, internal control and asset-freeze procedures, and noted that client accounts closed for AML/CFT reasons were not systematically considered for enhanced review or a Tracfin report.
FORMAL REPRIMAND
The formal reprimand, or blâme under French administrative law, is distinct from the monetary penalty.
COMMISSION WEIGHS CORRECTIVE ACTION AND 2024 LOSS
In setting the fine, the Commission took into account the gravity and duration of the breaches but also the significant corrective actions recently undertaken by the bank and its financial position, the bank having recorded a loss in 2024. The Commission nevertheless found the breaches serious enough to warrant both a public reprimand and a financial penalty.
Banque Delubac is a family-owned bank founded in 1924, focused on wealth management and commercial and investment banking.