Weekly Roundup: OCC Issues Two BSA Actions, Chinese Launderers Using Fake IDs to Bypass Police, and More

Paraguay's new President Horacio Cartes has been linked to drug trafficking, fraud, cigarette smuggling and money laundering, according to the Associated Press. A leaked 2010 U.S. State Department cable accuses Cartes of being the head of a Tri-border area criminal organization. Separately, Cartes is known to have spent 60 days in jail in 1986 during a currency fraud investigation. More The Office of the Comptroller of the Currency issued two Bank Secrecy Act related enforcement actions on Friday. The OCC told Shelbyville-based First FS & LA of Central Illinois to improve its customer due diligence controls, while Bronx, NY Ponce...