A Delaware bank has paid $15 million for helping criminal payment processors send more than $100 million to fraudulent online and telemarketing merchants, U.S. officials disclosed Monday. In a joint civil monetary penalty, the Federal Deposit Insurance Corp. (FDIC) and U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) accused Wilmington-based First Bank of Delaware of knowingly aiding nearly a dozen financial scams. The U.S. Justice Department separately ordered the bank to set aside $500,000 for future restitution payments. The disclosure comes less than a week after PA-based The Bryn Mawr Trust announced the completion of its $8.7 million purchase of...
The decision by PayPal early last month to freeze the account of a British blogger reflects the compliance uncertainties companies face when processing donations, say consultants.
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