Sigue, based in San Fernando, Calif., will forfeit $15 million and spend $9.7 million to upgrade its AML program as part of a deferred prosecution agreement with the Justice Department. Fortent Inform first reported the record penalty on January 11.
The settlement, which involves a $15 million forfeiture and a $9.7 million commitment to upgrade anti-money laundering procedures, will be included in a deferred prosecution agreement that could be issued as early as next week, people familiar with the matter said.