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Midweek Roundup: OFAC Fines Bank for Sudanese Wire, Tunisian Money Laundering Reportedly on the Rise, and More
printThe U.S. Treasury Department's Office of Foreign Assets Control (OFAC) fined Birmingham, AL-based Compass Bank $19,125 for violating sanctions against Sudan. The agency said that the bank allowed a wire transfer used to pay for the shipment of a tractor to Sudan. More The Federal Deposit Insurance Corp. (FDIC) disclosed two consent orders for Bank Secrecy Act (BSA) violations. The agency told Grand Rapids, MI-based United Bank of Michigan to improve its risk assessment of clients and products and implement an adequate suspicious activity reporting regime. More The FDIC ordered Kenney Bank and Trust, of Illinois, to improve its BSA...
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