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Weekly Roundup: OCC Fines Five for AML Failures, UBS Terror Suit Dismissed, Canada Revamps AML Regulations, and More
printThe Office of the Comptroller of the Currency released anti-money laundering-related (AML) civil monetary penalties totaling $61,000 against officers and directors of North Lauderdale, FL.-based Security Bank, N.A. The fines, ranging from $2,500 to $20,000, targeted five individuals who had served at various times as chairmen, presidents, chief executives, chief operating officer and directors of Security Bank. More The bank, which was closed in May, was the subject of at least three prior OCC orders between 2008 and 2010 related to financial weaknesses and deficiencies in its AML program. More The OCC previously in May 2011 issued fines against officers and...
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