France’s Ministry of Economics and Finance, through its financial intelligence unit Tracfin, published its 2024 activity report, reporting that suspicious transaction reporting under the national anti-money laundering and counter-terrorist financing (AML/CFT) framework exceeded 200,000 for the first time. Tracfin received 215,410 items of information in 2024, including 211,165 suspicious transaction reports from 50 obliged professions, up 13.2% from 2023. The financial sector accounted for 93.1% of reports, with banks and credit institutions generating 57.2% of filings; crypto-asset service providers submitted 3,073 reports, up 112.1%. Non-financial professions increased reporting by 25.7% but still represented around 7% of the total, including a 254.4% rise in filings from the luxury and art sector to 287 reports, while lawyers submitted 15 and sports agents have never filed a report. Public bodies and supervisory and professional organisations provided 2,558 reports, up 5.4%. The report also notes an expansion of AML/CFT reporting obligations to games involving monetisable digital objects (JONUM) and credit managers, and anticipates further additions with the European Union’s sixth AML/CFT package, including high-value goods dealers and professional football clubs; Tracfin and the Prudential Supervision and Resolution Authority have launched a project to harmonise bank transaction statements and are supporting firms’ rollout of the new format. On international cooperation, Tracfin contributed to preparatory and implementation work for the EU Anti-Money Laundering Authority and organised a plenary meeting in Paris bringing together more than 170 financial intelligence units worldwide.
France's Ministry of Economics and Finance Tracfin reports record 211,165 suspicious transaction reports in 2024
France's Ministry of Economics and Finance, via Tracfin, reported a record 215,410 suspicious transaction reports in 2024, a 13.2% increase from 2023. The financial sector contributed 93.1% of reports, with banks and credit institutions responsible for 57.2%, while crypto-asset service providers saw a 112.1% rise. The report highlights expanded AML/CFT obligations and anticipates further additions under the EU's sixth AML/CFT package, alongside efforts to harmonize bank transaction statements.