US AML officers have a busy December
NEW YORK – US anti-money laundering officers had a busy end to 2006, with several banks facing enforcement actions from the Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve.
Habib Bank's New York branch has consented to a written agreement with the Federal Reserve Board and the New York State Banking Department to take steps to rectify its shortcomings regarding the Bank Secrecy Act and anti-money laundering compliance, including policies and practices relating to the provision of correspondent banking services.
The bank has been given a series of tasks to achieve within 60 days to address concerns over its anti-money laundering compliance, suspicious activity
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