During the 129th session of the ECOWAS Banking Commission, held on 5 August 2022, the Supervisory College issued a publication of disciplinary and financial sanctions to L&# 39; location of two Burkinabe banks. For good reason, they have violated money laundering and terrorist financing regulations.

La Banque Commerciale du Burkina (CBC) and Wend-Kuni Bank (WBI) are two banks that have received sanctions according to agents inside these banks. Indeed, during its session, the Banking Commission issued a reprimand against its banks established in Burkina Faso after hearing the leaders concerned.

As the first CBC bank, the disciplinary sanction is motivated by breaches and violations of anti-money laundering regulations and terrorist financing (LBC/FT), noted during a thematic audit on the LBC/FT system, carried out at this bank in November 2021.

Thus, the bank received a financial penalty in the amount of three hundred (300) million FCFA, for the above-mentioned infringements falling within the third category , in accordance with the provisions of Instruction No. 006-05-2018 of 16 May 2018 establishing the procedures for the application of financial penalties imposed by the UMOA Banking Commission against UMOA credit institutions.

With regard to the second bank, WBI, in the same reproach as the first, it received a financial penalty in the amount of one hundred and fifty-one (151) million FCFA, in respect of of the abovementioned infringements falling within the third category, in accordance with the provisions of Instruction No. 006-05-2018 of 16 May 2018 establishing the procedures for the application of financial sanctions imposed by the UMOA Banking Commission against UMOA credit institutions.