AML Enforcement Continues to Trend in 2021
By EsqSocial Corporation 03/03/21
Federal regulators are increasing their scrutiny of companies' compliance with Anti-Money Laundering and Bank Secrecy Act Obligations, and if January is any indication, 2021 will be a record year for penalties. Just in the last two months, regulators have imposed more than $200 million in penalties on corporations. For example, the Federal Deposit Insurance Corporation (FDIC) assessed a $12.5 million penalty against a company for unspecified AML violations; and the Financial Crimes Enforcement...
By: Katten Muchin Rosenman LLP