CA Bank Sentenced for Conspiring to Impair, Impede and Obstruct its Primary Regulator
Friday, June 1, 2018 9:50 AM

Rabobank NA recently plead guilty in a California court to a felony conspiracy charge to hiding problems with its anti-money laundering program from its primary regulator, the Office of the Comptroller of Currency.   On May 18, 2018, the bank was sentenced to a two-year probation term and ordered to pay the maximum statutory fine of $500,000.   This was in addition to its forfeiture of almost $369 million in penalties to the United States for allowing illicit monies to be processed through the bank.   One of the investigating agents stated, "Rabobank’s sentencing today is a victory for all Americans and sends a strong message about the need for transparency in banking and ultimately contributes to the fight against money laundering.”  Click here for the DOJ press release regarding this bank.

Source: Department of Justice