Kenneth Rijock

Kenneth Rijock

Monday, November 19, 2018

OCC ISSUES CONSENT ORDER AGAINST MIAMI'S EASTERN NATIONAL BANK



The Office of the Comptroller of the Currency and Eastern National Bank, of Miami, Florida have entered into a Consent Order to address multiple compliance deficiencies. The Bank has had issues with regulators in the past, regarding BSA and anti-money laundering shortcomings.

The areas needing improvement specifically addressed in the Consent Order:

(1) Reqirement for a Strategic Plan.
(2) BSA Program.
(3) Suspicious Activity Reports (SARs).
(4) Historic Look-Back. 
(5) Foreign Correspondent Accounts.
(6) BSA Officer appointment.
(7) OFAC program.
(8) Internal audit of BSA/AML program.
(9) EDD, especially on Wire Transfers.



Readers who wish to review the 30-page document may access the completer text of the Consent Order and Stipulation here.


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