Analysis and Commentary on Money Laundering, Terrorist Financing and Financial Crime
Saturday, May 27, 2017
CITIGROUP/BANAMEX BSA INVESTIGATION IS SETTLED BY A $97.44m FINE
Readers who wish to review the complete text of the Non-Prosecution Agreement, entered into between the Department of Justice, Banamex USA, and Citigroup, which resulted in a civil fine of $97.44m, for Bank Secrecy Act violations, may access it here. The fine was based upon profits of $92.8m.
Citigroup stipulated that it willfully failed to maintain an anti-money laundering program, and willfully failed to file Suspicious Activity Reports.