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Treasury Settlement with HSBC Bank on BSA and OFAC Violations


The U.S. Department of the Treasury announced this week a collective settlement with HSBC Bank, reached by the Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), and the Office of Foreign Assets Control (OFAC), as part of a combined federal, local, and international government action.  It was the largest bank settlement regarding the Bank Secrecy Act (BSA) and sanctions in U.S.

Posted By Sharon Bahr read more
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