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AML Enforcement Actions Jumped in October Despite Financial Woes
By Brian Monroe
printFederal regulators are not giving banks any free passes when it comes to anti-money laundering compliance despite a flurry of loan-related enforcement actions, according to an analysis of recent penalty orders. Penalties related to deficient anti-money laundering (AML) programs, which had averaged between two and three per month for the year, surged to eight in October, the highest since regulators issued a dozen in August 2007, according to a review of enforcement data on Fortent Inform, a sister publication to Moneylaundering.com. There could be several reasons for the jump, from banks shifting scarce resources out of AML programs to shore...
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