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Weekly Roundup: Illinois Bank Admits to Avoiding CTR Filing, a Computer Tech Accused of Stealing IDs, and More
printA $600,000 fine against St. Louis, MO-based securities firm Scottrade for failing to tailor its compliance program to the company's business model and a guilty plea by a Palos Hills, IL-based bank for failing to file currency transaction reports (CTRs) reveals that certain U.S. financial institutions still lack the fundamentals of a strong Bank Secrecy Act (BSA) program. More Family Bank and Trust Co. admitted in a Chicago federal court on Monday that it failed to file several CTRs on deposits totaling over $80,000. Specifically, Marvin Siensa, the bank's former president, and other bank employees accepted deposits from clients over...
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