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AnchorBank Fined $100,000 for Negligent Compliance |
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By
AM Henry, 22-DEC-04
Anchor BanCorp announced that it has consented to a civil penalty in the amount of $100,000.
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Enforcement Action Against Riggs Bank |
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By
AM Henry, 13-MAY-04
Riggs Bank entered into a consent agreement with FinCEN and paid a $25 million civil penalty.
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Enforcement Action Against Hartsfield Capital Securities |
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By
AM Henry, 24-NOV-03
Hartsfield Capital Securities entered into a consent to the assessment of a civil money penalty in the amount of $10,000 for failure to obtain information on correspondent accounts and an inadequate AML program.
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The Topology of USAPA Enforcement |
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By
A Henry & E Herrera, 1-NOV-03
The most powerful tool for compliance officers, after the regulations themselves, are enforcement case studies. These “topologies of failure” provide concrete examples of how rules are being applied and what errors of omission or commission result in penalties. Eight enforcement actions are highlighted in this document: PayPal, Korea Exchange Bank, Leasecomm, Greenville Riverboat, Western Union, Banco Popular, Great Eastern Bank & Sovereign Bank.
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Federal Reserve Announces USAPA Bank Secrecy Act Examinations |
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By
AM Henry, 20-OCT-03
Federal Reserve issued a supervisory letter detailing examination procedures for the USA PATRIOT Act sections 313, 314 and 319.
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Enforcement Action Against PayPal Inc. |
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By
AM Henry, 24-JUL-03
PayPal entered into a $10 million settlement for violations of federal law including processing payments associated with illegal offshore and online gambling activities.
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Enforcement Action Against Korea Exchange Bank |
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By
AM Henry, 20-JUN-03
Korea Exchange Bank entered into a $1.1 million settlement for failure to report SARs and CTRs and for failure to perform due diligence regarding customer ID verification and recordkeeping.
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