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AML Enforcement Dropped in 2016 Amid Forecasts of Tougher Regulatory Environment

By ACAMS moneylaundering.com staff

U.S. federal regulators issued significantly fewer enforcement actions in response to Bank Secrecy Act and anti-money laundering program breaches in 2016 than the previous year, and fined only a quarter of the institutions they cited for such infractions. The 41 purely AML-related actions disclosed last year by the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., Federal Reserve and Financial Crimes Enforcement Network against banks and other financial institutions represents a drop of more than 20 percent from 2015, and the lowest annual total since at least 2008, according to data reviewed by ACAMS moneylaundering.com. Only nine...

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