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.
-
News BriefCVS hit with nearly $1 billion fine in Omnicare false claims verdict
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.