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OCC Fines Miami Bank $200,000 for BSA Record Keeping, SAR Reporting
By Matt Squire
printThe U.S. Treasury Department fined Miami-based Eastern National Bank $200,000 for not having adequate anti-money laundering controls and reporting procedures, the department said Monday. The Office of the Comptroller of the Currency (OCC) issued a civil money penalty to Eastern National on Oct. 24, charging the bank with failure to maintain controls over its Bank Secrecy Act (BSA) compliance program and file suspicious activity reports. The fine relates to an earlier OCC consent order against the bank dated June 4, said Eastern National Bank chairman Alberto Gonzales. The June order required Eastern National to establish a compliance committee and create...
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