Tagged: AML Programs

FinCEN Settles with USAA Federal Savings Bank for $140 Million for Willful AML Violations

FinCEN enforcement actions for anti-money laundering violations are often interesting because of the scope of violations and the large penalties imposed.  For most financial institutions, CCOs read these enforcement actions with an eye to distinguishing their own AML programs from the target involved in the enforcement action.  I would urge some caution here – it is easy to breathe a sigh of relief and whisper...