FinCEN Penalizes California Bank for Egregious Violations of Anti-Money Laundering Laws
Merchants failed to establish and implement an adequate anti-money laundering (AML) program OnlineEd Blog (February 28, 2017) – WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $7 million civil money penalty (CMP) against Merchants Bank of California of Carson, CA for willful violations of several provisions of the Bank Secrecy Act (BSA). The Office …