OCC: Citibank to pay $70M for AML deficiencies
The Office of the Comptroller of the Currency assessed a $70 million civil penalty against Citibank for failing to comply with the agency’s 2012 consent order related to Bank Secrecy Act and anti-money laundering deficiencies.
Related articles
-
Article
Big money fines emphasize focus on AML compliance
Speculation that anti-money laundering fines might shrink in the current political climate were proven very wrong in recent days.
-
ArticleData sharing, AI may be antidote to failing AML efforts
Big data may revolutionize anti-money laundering efforts, but privacy concerns and preserving a human element to compliance programs may get in the way.
-
ArticleFormer startup CEO gets 7 years in prison for $175M fraud against JPMorgan Chase
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.