Regulatory Alerts2005-12-19 | 2005-05Added
Assessment of Civil Money Penalty in the Matter of The New York Branch of ABN AMRO Bank N.V
The Financial Crimes Enforcement Network assesses a $30,000,000 civil money penalty against the New York Branch of ABN AMRO Bank N.V. for violations of the Bank Secrecy Act, including the failure to implement an adequate anti-money laundering program and the failure to timely and accurately report suspicious transactions. The penalty is satisfied by a single payment made within five business days of the assessment, which runs concurrently with a $40,000,000 penalty imposed by the Board of Governors of the Federal Reserve System.
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