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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-04-10T18:54:00
The Office of the Comptroller of the Currency (OCC) 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.
Acting Comptroller of the Currency Michael Hsu wrote in a final decision Wednesday the agency “reluctantly” decided to drop its case against Laura Akahoshi, Rabobank N.A.’s former CCO and a former OCC bank examiner. The agency alleged Akahoshi participated in an effort in 2013 to withhold information from an OCC examiner regarding a material audit of Rabobank’s Bank Secrecy Act/anti-money laundering (BSA/AML) program.
In its decision, the OCC overturned an administrative law judge’s decision finding fault with Akahoshi’s actions and a $30,000 fine because the judge “did not fully address documents and testimony favoring” Akahoshi.
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2023-05-26T14:42:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency could require large banks to take substantial actions to address persistent weaknesses, including restricting their growth or forcing them to divest from risky ventures.
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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 law.
2022-08-19T15:58:00Z By Kyle Brasseur
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.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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