BNP Paribas

Paribas fined $700,000 over fraud

The private bank of one of France’s biggest banks – BNP Paribas – has been fined $700,000 (£350,000) for allowing a senior manager to steal money from clients.

The Financial Services Authority (FSA) said controls in the bank’s London office were so weak that the employee had been able to take $3m (£1.4m)