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Weekly Roundup: FDIC Releases Seven AML Enforcement Actions, Nonprofit Group Names Ukraine, Bolivia Among Most Corrupt Nations, and More
printThe Federal Deposit Insurance Corporation (FDIC) issued six anti-money laundering (AML) related consent orders and one order modifying a previous enforcement action to include AML actions on Friday. More Torrance, CA-based ChinaTrust Bank and Vibra Bank, of Chula Vista, were each ordered to increase their board's oversight of AML compliance, ensure timely filing of suspicious activity reports and implement independent testing that includes risk assessment procedures. More Helm Bank, of Miami, Fl, was told to boost its due diligence of politically exposed persons and conduct a look back review of all high risk accounts and transactions beginning January 1, 2011....
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