- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-01-19T17:59:00
Capital One will pay a $390 million civil penalty for compliance failures regarding banking services offered to its check cashing group, which—according to FinCEN—had a reputation for money-laundering risks.
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The Federal Deposit Insurance Corporation has fined Apple Bank for Savings $12.5 million for violations of the Bank Secrecy Act related to anti-money laundering controls.
Kyle Brasseur explains how Capital One’s $390 million civil penalty for anti-money laundering failures could have been much steeper had it not been for the bank’s significant remediation efforts.
In the wake of 2020’s FinCEN Files leaks, the U.S. Treasury this year will undertake a thorough reevaluation of the country’s AML program under the Bank Secrecy Act.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
