News

Federal investigators are considering criminal charges against individual employees in connection to an alleged money-laundering scheme at an offshore bank in Puerto Rico, a senior FBI official told ACAMS moneylaundering.com. Agents with the bureau raided the office of South Bank International in Hato Rey, a neighborhood in San Juan, on July 3 in response to the lender's alleged failure to report suspicious transactions, maintain an effective compliance program and adhere to federal statutes against money laundering, the FBI announced last week. The bureau is now reviewing records collected during the raid for evidence of individual employees directing or facilitating the...