The Central Bank of West African States (BCEAO) has sanctioned some banks including a Senegalese financial institution that received disciplinary action and a fine.

The Umoa Banking Commission issued a reprimand against a bank operating in Senegal after hearing the officials concerned at its meeting on March 13, 2023. In a Bceao document, “this disciplinary sanction is motivated by breaches and breaches of the anti-money laundering and terrorist financing system, as well as other regulatory texts applicable to credit institutions, identified during the verification carried out with this bank.” In addition to the disciplinary penalty, the bank operating in Senegal was fined 300,000,000 CFA francs