2012 Anti-Money Laundering & Bank Secrecy Act Compliance 2-Day School
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“When an institution fails to uphold its compliance obligations, this creates a vulnerability – a crack in the foundation upon which our defenses against criminal abuse are built. Hence in any regulatory framework, but certainly in the AML/CFT area, it is essential that compliance expectations be backed by a credible enforcement mechanism, which in FinCEN’s case means the imposition of civil money penalties”.
James H. Fries, Jr.
