Feds test for compliance with anti-money laundering regs


Originally published in the Portland Business Journal on October 5, 2012.

As recently reported in the press, the comptroller of the currency, the U.S. Department of Justice and other state and federal regulators are investigating several major banks for failing to monitor and report suspicious cash transactions that were processed through the banks' branches.

This development is not a surprise. The government has already moved against several major banks for failing to detect and report suspicious transactions.

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