Weekly Roundup: OCC Dings Two Banks for AML Lapses, FinCEN Calls for BSAAG Nominations, and More

The U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) disclosed a pair of enforcement actions Monday over deficient Bank Secrecy Act (BSA) programs. The agency ordered Los Angeles-based National Bank of California to include better account opening due diligence procedures in its BSA written policy, and ensure that all suspicious activity and large currency transactions are documented and reported. More New Jersey-based Saddle River Valley Bank was dinged by the OCC for poor monitoring of its international wire transfers and inadequate controls on its remote deposit capture services. The regulator ordered the bank to hire an independent...