TITLE

Fed Order Hits Citi Over Anti-Laundering Lapses

AUTHOR(S)
Borak, Donna
PUB. DATE
March 2013
SOURCE
American Banker;3/27/2013, Vol. 178 Issue 47, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. Federal Reserve Board's consent order against Citigroup which has to improve its anti-money laundering (AML) programs. The article notes 10-page consent order also charged Citigroup with not having effective internal controls and governance to monitor the company's compliance with the Bank Secrecy Act (BSA). It also notes the company agreed to be a source of financial and managerial strength for its banks.
ACCESSION #
86435650

 

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