Banamex USA, a Mexican unit of Citigroup, will pay $97.44 million and enter into a non prosecution agreement to settle allegations the company violated the Bank Secrecy Act. Banamex and Citigroup were represented by Brad Karp and Susanna Buergel of Paul Weiss in New York. The non prosecution agreement came under immediate fire from corporate […]

The Federal Deposit Insurance Corporation Wednesday imposed a civil penalty of $140 million against Banamex USA of Century City, California for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations. In a concurrent action, the California Department of Business Oversight (CDBO) assessed a $40 million penalty against Banamex USA (BUSA). […]

Citigroup Inc (C.N) said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit. The Financial Crimes Enforcement Network, a unit of the U.S. Treasury, and the California Department of Business Oversight have asked the company for information on its compliance with the Bank Secrecy Act and […]