A January 9 WSJ article (now available only to subscribers) was entitled "Banks Face New U.S. Moves Against Money Laundering" told of how DOJ was now targeting financial institutions. It wasn't anticipatory, it was talking about now.
The ABA's "Four Oaks" story linked above is no longer accessible. Here's
another on the subject. Ever since Retread posted it, the story has bugged me because it was about a community bank in North Carolina and I actually thought I had heard it months before, but could not find it.
Turns out the one I remembered was about
CommunityONE Bank also a community bank in North Carolina.
My point in bumping this thread is simply to say I think our industry is too focused on what happens to HSBC, JP Morgan, etc. and we do not realize that the mortars are landing much closer than we think they are.
Two community banks targeted by the local office of DOJ...no national headlines, but it's still a big deal. It's worth a couple clicks to review the DOJ web site(s) in your state and see how interested they are in structuring and in enforcing BSA or FIRREA against banks. (They all like to issue chest thumping press releases.)