Regulatory Alerts2015-01-27 | 2015-01Added
Assessment of Civil Money Penalty Against Oppenheimer & Co., Inc.
FinCEN assesses a civil money penalty against Oppenheimer & Co., Inc. for willfully violating the Bank Secrecy Act from 2008 through May 2014. The violations include failing to implement an adequate anti-money laundering program, neglecting due diligence requirements for a foreign correspondent account, and failing to comply with notification rules under Special Measures imposed on three foreign financial institutions. Oppenheimer admits to these facts and consents to the penalty assessment.
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