A U.S. anti-money laundering regulator often did not abide by its own policies and procedures when administering civil fines against financial institutions in recent years, a governmental watchdog said. In an audit, the U.S. Treasury Department's Office of the Inspector General (OIG) found that from 2008 to 2014 the Financial Crimes Enforcement Network (FinCEN) failed to maintain adequate documentation for the majority of civil enforcement actions it was charged with evaluating, did not follow "standard procedures" when assessing monetary penalties and did not compile supporting evidence when determining the amount of a fine. Following its reorganization in 2013, FinCEN also...
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