Another day, another project. Money laundering, embargos, financing terrorism... What will it be this time? Some people are involved in, shall we say, unsavory activities. My job is to protect the bank.
The core of our job as FSAs is in-depth client knowledge. For instance, whenever a new account is opened, our job is to look into the risks associated with any activity that isn’t in line with established banking regulations and the values of Société Générale. In terms of corporations, we look at why they’re seeking to bank with us, their activities, any relevant legal and regulatory documentation, and the identities of their directors, shareholders and beneficiaries in France and abroad.
— I think they’re above board, but I’m not sure about one of the shareholders. They have ongoing activity in a country under sanctions.
— Ha! Where do you see that?
— It’s my job!
We’ll need the personal data of all of the people connected to this company, as well as details on their financial activities. I mean, manufacturing “inflatable unicorns” in that country...
I’m not convinced, Julien.
Specifically, there are a number of activities that raise red flags.
We keep a close eye on them. Regions under sanction, commodities markets, precious metals
and gambling activities. Our team members come from all different fields, and each has their specialty. We meet on a regular basis to discuss the most sensitive dossiers.
— Here’s the case of WIWI Corp, which makes bird figurines but has just invested in a uranium plant.
— I don’t see the connection...
We have some financial flows that are a bit suspicious... We exchange information on new risk topics on a regular basis.
— On today’s agenda, Bitcoin. Why is it a ‘hidden’ cryptocurrency, and what are the associated risks in terms of traceability and money laundering?
We also train the business teams so that they can keep this notion of daily risk in mind.
— I’m going to show you a series of pictures. I need you to tell me if it represents a threat or not.
— Threat or no threat?
— Threat or no threat?
— No threat!
It's a kennel with connections to a large fast food chain.
Let me give you a hint, this puppy will soon be called ‘hot dog.’ In the case of large contracts, our team exchanges lots of information with the business teams. We’re the guardians of the company’s values over the long-term.
So it’s important we remain vigilant. It’s a shadowy job, not always easy.
— Turn the light off when you leave?
— Have a good weekend!
I’m watching over you. I’ll defeat the shadows in the dark, nothing will...
Ah, she’s gone!
The job is yours, and you’re ready to start the adventure.