The Agricultural Bank of China was penalized $215 million Friday after it "silenced and severely curtailed the independence" of its New York branch's chief compliance officer who tried to expose and stop suspicious transactions at the bank.
Entries in New York (8)
AML Alert: New York rule would require certification by compliance chiefs, impose criminal liability
In an effort to stop terrorism financing at its source, the New York Department of Financial Services proposed new requirements for economic sanctions and anti-money laundering programs maintained by financial firms.
Run-amok compliance officers cost Bank of Tokyo Mitsubishi $315 million for sanctions report whitewash
The New York State Department of Financial Services (DFS) Tuesday levied $315 million in penalties against Bank of Tokyo Mitsubishi UFJ (BTMU) for misleading regulators regarding its transactions with Iran, Sudan, Myanmar, and other sanctioned entities.
The DOJ filed a civil forfeiture complaint in Manhattan federal court last week targeting seven properties allegedly purchased in Dutchess County, New York by a Greek national using the proceeds of a long-running human smuggling operation.
Bank of America is paying $16.65 billion to settle fraud claims by federal and state enforcement agencies and regulators that relate back to the financial crisis of 2008. It's "the largest civil settlement with a single entity in American history," the DOJ said Thursday.
The New York Department of Financial Services said Tuesday that Standard Chartered Bank will pay $300 million for "failures to remediate anti-money laundering compliance problems" required by the bank's 2012 settlement with the same regulator.
New York's Department of Financial Services said Monday that PricewaterhouseCoopers (PwC) Regulatory Advisory Services has been suspended for two years for helping whitewash a sanctions and anti-money laundering compliance report from the Bank of Tokyo Mitsubishi (BTMU).
Bruce Roter had the idea last summer to open the Museum of Political Corruption in Albany, New York. And he's serious.