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“On the Cheap” AML Cost U.S. Bank $613 Million

“On the Cheap” AML Cost U.S. Bank $613 Million

Enhanced due-diligence on higher risk customers is just one part of an effective Anti-Money Laundering (“AML”) compliance program. In February, federal regulators announced $613 million in penalties against U.S. Bankcorp for knowingly failing to maintain a robust AML compliance program.

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