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Apple Bank pays US$12.5m to FDIC over US Bank Secrecy Act violations

Money Laundering Bulletin

Apple Bank pays US$12.5m to FDIC over US Bank Secrecy Act violations

Apple Bank for Savings of New York has paid US$12.5 million to settle claims by the Federal Deposit Insurance Corporation (FDIC) that it breached the Bank Secrecy Act (BSA) between April 2014 and September 2018. [1] The consent order was dated 21 December 2020 but publishedon 29 January 2021.

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