Bank Secrecy Act – Financial Treason & Crime

WSJ | 21.02.01

Apple Bank for Savings will pay the FDIC $12.5 million for allegedly failing to comply with the Bank Secrecy Act

Apple Bank for Savings agreed to pay $12.5 million to settle a regulator’s claims that it failed to comply with anti-money-laundering rules. The bank allegedly violated the Bank Secrecy Act, an anti-money-laundering law, between April 2014 and September 2018, the Federal Deposit Insurance Corporation said. The order was issued in December and made public on Friday.

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01/15/202102/03/2021

Capital One Fined for Anti-Money-Laundering Deficiencies

Uncategorized

AnnaMaria Andriotis | 21.01.15

Treasury’s Financial Crimes Enforcement Network said the bank admitted it had failed to maintain effective controls in a check-cashing business.

The Treasury Department on Friday said it fined Capital One Financial Corp. for “willfully failing to implement and maintain” effective anti-money-laundering controls. As part of the settlement, Capital One admitted that it “willfully failed to file thousands of suspicious-activity reports,” according to the Treasury’s Financial Crimes Enforcement Network. The allegations pertain to a check-cashing group that Capital One acquired when it bought North Fork Bank in 2006.

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