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Federal and state regulators Thursday ordered a Hamburg, Germany-based bank to improve its Bank Secrecy Act training, customer risk-ranking and suspicious activity reporting. The Federal Reserve Board and New York State Department of Financial Services (NYSDFS) issued a joint written agreement requiring HSH Nordbank AG to conduct a "comprehensive assessment" of its anti-money laundering (AML) program. The bank must also "clearly" delineate the responsibilities of its management and AML and audit staff in addition to hiring a consultant to improve its internal auditing. The regulators also ordered HSH Nordbank to improve its monitoring of high-risk customers, including politically exposed persons,...