Skip to content

Citibank earns CMP for non-compliance with BSA C&D order

Sioux Falls, SD
Fine Amount: 
$70 million
Issued by: 

The OCC has issued a Consent Order for a Civil Money Penalty to Citibank, N.A., having found the bank in violation of a prior OCC Consent Cease and Desist Order for BSA/AML deficiencies issued on April 5, 2012, in which the OCC identified deficiencies in the Bank’s Bank Secrecy Act/anti-money laundering (“BSA/AML”) compliance program that resulted in violations of 12 U.S.C. § 1818(s) and its implementing regulation, 12 C.F.R. § 21.21 [Procedures for monitoring BSA compliance] and 12 C.F.R. § 21.11 [Reports of suspicious activity], and 31 U.S.C. § 5318(i) and its implementing regulation, 31 C.F.R. § 1010.610 [Due diligence programs for correspondent accounts for foreign financial institutions].

The OCC found that the bank had not timely achieved compliance with the 2012 Consent Order, and is in violation of that order from September 30, 2015, to the present. The bank was ordered and agreed to pay a civil money penalty of $70 million.

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Penalties