Briefs
US fines ABN Amro
– The US Federal Reserve has ordered ABN Amro to pay $80 million in fines for lacking adequate risk management that could identify money laundering activities in its overseas branches. According to the order, released in mid-December, the Amsterdam-based bank must also submit plans for a new global risk management and compliance system within 90 days. "ABN Amro lacked effective systems of governance, audit and internal control to oversee the branches with respect to legalOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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