News

Federal investigations of bank employees suspected of enabling violations of U.S. rules against illicit finance are on the rise, with several compliance officers at a number of institutions currently the targets of civil or criminal inquiries, say sources. Federal attempts to assign individual liability against bankers, which was confirmed to ACAMS moneylaundering.com by three industry attorneys, follows the issuance of new prosecutorial guidelines by the Justice Department, the Treasury Department's emphasis on enforcement and investigators' growing familiarity with the Bank Secrecy Act. "It's fair to say that there is a noticeable uptick in the attention on individuals generally, and BSA...