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May 22, 2017

Posted  May 30, 2017

Los Angeles-based Citigroup subsidiary Banamex USA agreed to forfeit $97.44 million to resolve an investigation into BUSA’s Bank Secrecy Act (BSA) violations.  In its agreement, BUSA admitted to criminal violations by willfully failing to maintain an effective anti-money laundering compliance program to guard against money laundering and willfully failing to file Suspicious Activity Reports. DOJ

Tagged in: Financial Institution Fraud, Money Laundering,