- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2022-12-08T19:38:00
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism (AML/CFT) law.
The bank is “fully cooperating” with the probe, it said in a press release Wednesday. Rabobank said it could not provide any further information on the matter.
Rabobank’s alleged AML/CFT shortcomings date back to at least September 2018, when the Dutch Central Bank (DNB) ordered Rabobank to improve its customer due diligence practices.
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The Office of the Comptroller of the Currency dismissed an enforcement action and withdrew a fine against the former chief compliance officer for the now-defunct U.S. branch of Rabobank N.A.
John Ryan, the former CEO of Rabobank, N.A., was fined $20,000 by the Office of the Comptroller of the Currency for his alleged role in obstructing a Bank Secrecy Act program examination that would lead to significant fines for the bank.
Rabobank announced the Dutch Central Bank ordered it to “remedy deficiencies in its compliance with the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act.”
Former executives of Medly, an online pharmacy that is now shuttered, have been charged by the Securities and Exchange Commission with defrauding investors.
The Treasury Department’s Office of the Comptroller of the Currency ordered Wells Fargo to make “comprehensive corrective actions” to its Bank Secrecy Act/anti-money laundering and U.S. sanctions programs, along with receive permission from the OCC to offer new products and services or enter new geographic markets with “medium or high” ...
TD Bank has been ordered to pay $27.7 million and implement compliance measures, for providing inaccurate, negative credit information to credit agencies about tens of thousands of its customers and taking too long to fix the errors, the Consumer Financial Protection Bureau said.
