On September 10, 2024, an online media outlet reported that the BCP Group had been fined €130 million for money laundering and had its banking license revoked in Belgium, Spain, and the Netherlands. In response, BCP Group addressed these claims, labeling them as “harmful allegations.”
To set the record straight, BCP provided the following clarifications:
- Since 2020, a legal case has been underway involving the Belgian branch of Chaabi Bank. BCP Group has been cooperating fully with the authorities to resolve the matter and maintain the integrity of its institutions.
- Contrary to the media reports, no fines or confiscations have been imposed on either BCP or Chaabi Bank, and the judicial process remains ongoing with no clear timeline.
- Chaabi Bank, licensed by the French regulator, continues its operations under the European passport system, allowing it to operate within the European Union.
- Both Moroccan and European regulators are aware of the situation and are closely monitoring the legal proceedings.
BCP also reassured that it will continue to provide updates on this matter in compliance with the regulations.
This case dates back to October 6, 2020, when a judicial investigation led to searches and interviews at the Belgian branch of Banque Chaabi Du Maroc. During the investigation, documents and equipment were seized, and employees were interviewed as witnesses.
