All Bank Secrecy Act articles – Page 3

  • Blog post

    Former MoneyGram compliance officer pays $250K for AML failures

    2017-05-08T14:00:00Z

    The former chief compliance officer for MoneyGram International has agreed to a three-year injunction barring him from performing a compliance function for any money transmitter and has agreed to pay a $250,000 penalty for anti-money laundering failures.

  • Blog post

    Fed to Bank of Nova Scotia: Fix AML Controls

    2015-11-13T12:15:00Z

    The U.S. Federal Reserve and the New York Department of Financial Services in an enforcement action this week ordered the Bank of Nova Scotia and its New York agency to significantly improve its anti-money laundering operations. The bank and the branch have 60 days to jointly submit a written enhanced ...

  • Blog post

    Fed to China Construction Bank: Fix AML Controls

    2015-07-24T10:30:00Z

    The U.S. Federal Reserve and the New York Department of Financial Services in an enforcement action this week ordered China Construction Bank and its New York branch to significantly improve its compliance operations. The bank and the branch have 60 days to jointly submit a written enhanced compliance program in ...

  • Blog post

    Banamex USA Fined $140M for AML Violations

    2015-07-22T16:30:00Z

    The Federal Deposit Insurance Corporation today imposed a civil penalty of $140 million against Banamex USA for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. The FDIC imposed the penalty on the same day that Citigroup, which purchased Mexico-based Banamex in 2001, said it would be ...

  • Blog post

    State Street Anticipating Enforcement Action

    2015-05-15T14:15:00Z

    State Street disclosed in a filing with the Securities and Exchange Commission this week that it expects to become the subject of an enforcement action brought by the Federal Reserve and the Massachusetts Division of Banks for deficiencies in the bank’s compliance program relating to the Bank Secrecy Act, anti-money ...