Bank Regulators To Pursue Stricter Money-Laundering Penalties

By  |  March 11, 2013
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Top banking regulators have indicated an interest in implementing stricter penalties against money-launderers, reports BankCreditNews.com.

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    Members of the Office of the Comptroller o the Currency (OCC) want to be able to hold bank employees, executives and directors who engage in money laundering to harsher penalties, including “removal and prohibition actions.”

    David Cohen of the Treasury said his organization would like similar power, and is looing “for more opportunities to impose these types of remedies in appropriate cases,” he said.

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