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Capital One Bank fined $100 million for anti-money laundering weaknesses

Capital One Bank fined $100 million for anti-money laundering weaknesses

WASHINGTON (Reuters) - A leading bank regulator on Tuesday fined Capital One Bank [COFCO.UL] $100 million for failing to enforce anti-money laundering controls that have been in place for years.

Capital One failed to satisfy a 2015 consent order that demanded the bank improve its anti-money laundering policies, the Office of the Comptroller of the Currency (OCC) said in a statement.

“The Bank failed to timely achieve compliance with the 2015 Consent Order,” the OCC said in a new consent order that outlined the fine.

Source: https://uk.reuters.com/

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