In a Banking Exchange, Partner Julie Copeland highlights the latest in a long series of enforcement actions by FinCEN, securities and bank regulators, as well federal prosecutors, to hold individual officers in financial institutions responsible for AML program failings. She also explains how compliance leaders can take pragmatic action to protect themselves and the organizations they oversee.
The Financial Crimes Enforcement Network (FinCEN) recently imposed a $450,000 civil money penalty on a former compliance / chief operational risk officer at U.S. Bank for anti-money laundering deficiencies at the Bank, once again underscoring regulators’ willingness to hold accountable the individuals “who willfully participate” in the institution’s violations of anti-money laundering requirements.
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Banking Exchange
May 11, 2020
Julie Copeland
Julie Copeland, a Partner with StoneTurn, brings over 20 years of experience advising the world’s largest financial institutions on anti-money laundering (AML) controls; issues related to economic sanctions, anti-bribery and […]
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