USAA Federal Savings Bank will pay the U.S. Treasury $140 Million after it admitted failing to fix an anti-money laundering program which the Government said was rudimentary and significantly understaffed. The bank willfully failed to supplement and maintain the anti-money laundering program which must meet the requirement of the Bank Secrecy Act. FinCen said that USAA failed to make 3,873 reports about suspicious activity by its customers, which some used for criminal activities.
JEFFREY NEWMAN IS A WHISTLEBLOWER LAWYER AT THE FIRM JEFF NEWMAN LAW AND HANDLES WHISTLEBLOWERS REPORTING MONEY LAUNDERING SCHEMES, AND OTHER WHISTLEBLOWER CASES. 617-823-3217 email@example.com