Could this happen to your community financial institution? You bet.
Financial institutions of all types and sizes are continuing to receive enforcement actions for weak anti-money laundering programs, customer due diligence, and poor monitoring and reporting of suspicious transactions.
In addition to the action against HSBC, in November 2012, two other enforcement actions that are a significant warning shot for the industry were issued and CMPs assessed:
- On November 16, the FDIC… [more]
Could this happen to your community financial institution? You bet.
Financial institutions of all types and sizes are continuing to receive enforcement actions for weak anti-money laundering programs, customer due diligence, and poor monitoring and reporting of suspicious transactions.
In addition to the action against HSBC, in November 2012, two other enforcement actions that are a significant warning shot for the industry were issued and CMPs assessed: