Citibank has been handed a $70 million civil money penalty by the Office of the Comptroller of the Currency (OCC) for failing to comply with a 2012 consent order concerning deficiencies with Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance.
Citi consented to the order, issued Dec. 27, 2017, and announced Jan. 4.
Citi neither admitted to nor denied the charges from the OCC. Read on for more about the office’s enforcement action.
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