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Weekly Roundup: OFAC Reaches Agreement with Lloyds Bank, a New York Rabbi Gets Two Years for Money Laundering, and More
printAlthough it was a relatively quiet week in anti-money laundering news, a settlement agreement for $217 million between Lloyds Bank TSB and the Office of Foreign Assets Control (OFAC) proved that the holidays didn't distract regulators from sanctions and compliance issues. More On Tuesday, OFAC announced that Lloyds agreed and acknowledged that it had intentionally manipulated information on international wire transfers to conceal that they were from Iranian clients. The practice, which included deleting or omitting identifying information, was approved by senior management. Lloyds offered staffers a how-to-guide to alter the wires in an internal document entitled 'Payment Services Aide...
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