By Brian Monroe bmonroe@moneylaundering.com Regulators have smacked the New York branch of Qatar's largest private commercial bank with orders demanding the institution fix a slew of alleged anti-money laundering deficiencies, and delve back two years in its records to look for more. In a rare move by the U.S. Treasury Department's Office of the Comptroller of the Currency, the 24-page cease-and-desist order requires Doha Bank to hire outside consultants to comb through accounts to determine if there are deeper problems to be found. Typically, banks and other financial institutions do "look-back reports" with in-house or independent auditors in an attempt...
The U.S. Treasury Department fined the U.S. branch of Qatar's largest private commercial bank $5 million Tuesday to settle charges that it failed to report transactions potentially tied to terrorism.
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