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NEWS: OCC hits Michigan bank with a $6M (€6.2M) fine for unsafe practices

Premium September 28, 2022
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NEWS: France, Ireland and Latvia called out by EU for AML failures

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NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

INSIGHT: New AML rules will change the EU’s financial crime prevention landscape for good. But what will change in practice?

By Alisha Houlihan for AMLi

The United States Office of the Comptroller of the Currency (OCC) has slapped Sterling Bank and Trust FSB with a $6M (€6.2M) fine for “unsafe or unsound” practices relating to the bank’s “Advantage Loan Programme”.

The low-document mortgage loan programme was offered by the bank between 2011 and 2019, while the OCC determined that the bank had originated numerous loans based on “false or fraudulent loan information.”

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Premium

NEWS: France, Ireland and Latvia called out by EU for AML failures

 Premium

NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

INSIGHT: New AML rules will change the EU’s financial crime prevention landscape for good. But what will change in practice?

Regulatory Watch News

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