Number of 2011 Bank AML Enforcement Actions on Track to Surpass 2010

By Brian Monroe and Colby Adams

The number of anti-money laundering enforcement actions handed down by federal banking regulators rose nearly 48 percent in the first six months of 2011 compared to the same period last year, data shows. The Federal Deposit Insurance Corp. (FDIC) drove the growth, issuing 12 actions in the first half of the year in contrast with a single anti-money laundering (AML) violation in the first half of 2010, according to data compiled by Advantage. The agency went on in the second half of 2010 to hand down 13 more AML-related penalties. The 31 actions disclosed by June of this year...