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.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
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.
-
PremiumUK’s deregulation drive raises compliance risk, say top lawyers
The United Kingdom’s latest effort to encourage regulators to pare down rules to attract companies and investment as a way to stimulate the economy has received mixed reviews from lawyers.