Foster Bank Agrees to Pay $2 Million in Case Involving Structuring, Inadequate SARs Dec. 14 -- Foster Bank agreed to pay a $2 million penalty to settle an anti-money laundering case that regulators say involved the transmission of millions of dollars to countries targeted as concerns by the State Department and transaction structuring by the bank's president. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) levied the fine in an enforcement action issued today that cited the Chicago-based bank for "significant" failures in complying with federal and state anti-money laundering laws. The violations were identified in an August 2002 examination...
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