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.

Please see full alert below for more information.

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Published In: Administrative Agency Updates, Criminal Law Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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