Page 3 - வாடிக்கையாளர் அடையாளம் ப்ரோக்ர்யாம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Tuesday, March 2, 2021 Federal regulators are increasing their scrutiny of companies compliance with Anti-Money Laundering and Bank Secrecy Act Obligations, and if January is any indication, 2021 will be a record year for penalties. Just in the last two months, regulators have imposed more than $200 million in penalties on corporations. For example, the Federal Deposit Insurance Corporation (FDIC) assessed a $12.5 million penalty against a company for unspecified AML violations; and the Financial Crimes Enforcement Network (FinCEN) penalized a company $390 million for failing to file suspicious-activity and currency-transaction reports, and for failing to implement and maintain an effective Anti-Money Laundering program. These large penalties are consistent with an enforcement trend that has seen financial regulators impose escalating fines and penalties on companies for AML violations. Total penalties for such violations exceeded $10 billion worldwide in 2020.

National credit union administrationBank secrecyDeposit insurance corporationCompliance program requirementsFederal reserveFinancial crimes enforcement network finCustomer identification programNational defense authorizationBank secrecy act obligationsUs congressOffice of the comptrollerAnti money launderingFederal deposit insurance corporationFinancial crimes enforcement networkNational defense authorization actAnti money laundering act