Avoiding AML compliance penalties – Tips from a former regulator
Abrigo
SEPTEMBER 20, 2023
A few years ago, a small credit union in Miami Gardens, FL, shut its doors due to a $300,000 civil money penalty assessed for their anti-money laundering (AML) failures. These MSBs were located in high-risk jurisdictions outside the Miami credit union’s field of membership and outside the United States.
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