What Did Rabobank Do to Deserve a $50 Million Penalty?
Everyone knows that complying with Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations is a must. However, for this California bank, their deficiencies cost them a $50 million penalty by the Office of the Comptroller of the Currency (OCC). Let's see where they went wrong. Rabobank, N.A., of Roseville, California was subject to a [...]