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“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Citigroup Probe Over AML Violations Widens
Citigroup is under investigation by the Financial Crimes Enforcement Network and the California Department of Business Oversight for potential Bank Secrecy Act and anti-money laundering violations at its Banamex USA unit. The disclosure comes one year after Citigroup received a subpoena from the U.S. attorney of Massachusetts for similar issues. ...
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Banamex USA Fined $140M for AML Violations
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 ...
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Basic PageArizona couple pleads guilty in vast $1.2B skin graft false claims case
Two owner-operators of three Arizona medical companies have pleaded guilty to billing more than $1.2 billion in false and fraudulent claims to Medicare and other government health programs in less than two years, the Department of Justice said.
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News BriefCFPB issues $2.5M penalty against Wise in last action of Chopra era
A fine by the Consumer Financial Protection Bureau (CFPB) against the U.S arm of London-based foreign exchange company Wise could be one of the agency’s final actions as a new regulatory regime reportedly froze rules and litigation amid calls for defunding.