ABLV Bank chief compliance officer quits amid money laundering probe
ABLV Bank announced the resignation of its chief compliance officer, Aleksandrs Paže, at a time when the bank finds itself in hot water for alleged money laundering practices.
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What has Latvia wrought?
U.S. banking regulators have long understood the connection between bribery, corruption, money laundering. and security. It will be interesting to see if the ECB and European countries are willing to become as aggressive as their U.S. counter-parts in fighting the global scourge of money laundering.
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PremiumAssessing the impact of the DOJ’s monitorship policy six months in
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
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ArticleOCC drops $10M fine against former Wells Fargo risk officer fingered in “fake accounts” scandal
A former Wells Fargo risk officer previously ordered to pay $10 million by the Department of the Treasury’s Office of the Comptroller of the Currency (OCC) for her alleged role in the bank’s “fake accounts” scandal is completely off the hook, according to an OCC consent order issued Tuesday.