Compliance Monitor
Insider fraud costs BNP Paribas Private Bank £350,000 for lax controls
Holes in the anti-fraud controls at BNP Paribas Private Bank (BNPP Private Bank), which enabled a senior employee to steal
£1.4 million from client accounts between February 2002 and March 2005, by forging clients’ signatures and falsifying change
of address documents, have led to a £350,000 penalty.