Report on Preventing Rebound Accounts for Laundering Fraud Proceeds

The Autorité de contrôle prudentiel et de résolution (ACPR) has published a report following a thematic study conducted in 2024. This study examined French accounts that received transfers suspected of being proceeds from scams and frauds between 2022 and 2023. It also assessed the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CTF) systems implemented by financial institutions under ACPR supervision to mitigate the risks associated with money laundering through these schemes, particularly focusing on the prevention of "rebound accounts."

This report provides guidance and insights for financial institutions to enhance their AML/CTF frameworks. While non-binding, it highlights areas of concern and best practices for identifying and preventing the use of accounts for laundering fraud proceeds. Financial institutions should review the report's findings and recommendations to strengthen their internal controls and transaction monitoring systems to combat financial crime effectively. No specific compliance deadline is mentioned, but the report's publication implies an expectation for institutions to adapt their practices.