The U.S. Treasury Department's Financial Crimes Enforcement Network said senior managers at Banca Privada d'Andorra took bribes for several years to help launder money for organized crime groups.
Entries in Financial Crimes Enforcement Network (4)
The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) defined the concept of a "culture of compliance" in a six-page advisory Monday that was aimed at senior management, leadership and owners of financial institutions subject to FinCEN's regulations.
The chief of U.S. Treasury's anti-money laundering unit said casinos must use all information at their disposal to uncover suspicious customer transactions, including information about their source of funds.
The people at the DOJ in charge of FCPA enforcement get help from the Egmont Group, they say. The feds describe Egmont as part of the international infrastructure by which enforcement agencies share information and help each other develop evidence to prosecute financial crimes, such as money laundering, tax evasion, and graft.