Regulatory Alerts2012-11-19 | 2012-01Added
Assessment of Civil Money Penalty Against First Bank of Delaware
The Financial Crimes Enforcement Network assesses a $15,000,000 civil money penalty against First Bank of Delaware for violating the Bank Secrecy Act. The Bank willfully failed to implement an adequate anti-money laundering program and failed to detect and report suspicious activity, including late filings involving over $1.6 billion. This penalty is concurrent with identical penalties assessed by the Office of the United States Attorney for the Eastern District of Pennsylvania and the FDIC, and is satisfied by a single payment of $15,000,000 to the United States Department of the Treasury.
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