FDIC Enforcement Spotlights Deficiencies in Kansas Bank’s Anti-Money Laundering Program
By EsqSocial Corporation 13/01/25
On December 27, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a notice of assessment of a civil money penalty against a Kansas-based bank. The action, originally brought in November, imposed a $20.4 million civil money penalty against the bank and alleged violations of the Bank Secrecy Act (BSA), 31 U.S.C. § 5311 et seq., for its failure to implement an adequate anti-money laundering and counter-terrorism program....
By: Sheppard Mullin Richter & Hampton LLP