All Puerto Rico articles
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News Brief
FinCEN fines P.R.-based Bancredito $15M in landmark AML action
Puerto Rico-based Bancrédito International Bank and Trust Corporation was assessed a $15 million penalty by the Financial Crimes Enforcement Network for admitted violations of the Bank Secrecy Act regarding suspicious activity monitoring and anti-money laundering compliance.
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Article
LPL Financial to pay $4.8M to settle claims of poor KYC procedures
The nation’s presumed top independent broker-dealer will pay more than $4.8 million to settle AML charges stemming from its alleged failure to reconcile inconsistencies of a new customer who would scam a Puerto Rican city out of millions of dollars.