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The Financial Crimes Enforcement Network (FinCEN) announced the assessment of a civil money penalty in the amount of $12 million against Sigue Corporation and Sigue, LLC, a money services business headquartered in San Fernando, California, for violations of the Bank Secrecy Act (BSA). Sigue, without admitting or denying the...
The Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC) today announced the assessment of concurrent civil money penalties, each $10 million, against Union Bank of California, N.A. (Union Bank ) of San Francisco, California, for violations of the Bank Secrecy Act. Union...
The Board of Governors of the Federal Reserve System and the Financial Crimes Enforcement Network (FinCEN) on Monday announced that they have concurrently assessed $20 million in civil money penalties against American Express Bank International (AEBI) of Miami, Florida, for violations of the Bank Secrecy Act (BSA).  In addition,...
Bank supervisory and penalty actions released Monday will require ABN AMRO Bank, N.V. to undertake remedial action in its worldwide banking operations and to pay $80 million in penalties to U.S. federal and state regulators. The Board of Governors of the Federal Reserve System, the New York State Banking Department,...
The Financial Services Authority (FSA) has today fined Investment Services UK Limited (ISUK) £175,000 for conducting its business without due skill, care and diligence and for failing to control its business effectively in relation to anti-money laundering (AML) systems and controls. The firm's Managing Director, Ram Melwani, has been fined...
The Financial Services Authority (FSA) has today fined the Bank of Ireland (BoI) 375,000 for failing to have in place systems to detect a series of high-risk, cash transactions worth approximately 2 million, which were undertaken in breach of their policies and procedures. These transactions appear to be suspicious...