Monthly Archives: March 2020

Former U.S. Bank Risk Officer Fined $450K for AML Compliance Failures

The Financial Crimes Enforcement Network (FinCEN) has assessed a $450,000 civil money penalty against Michael LaFontaine, former chief operational risk officer at U.S. Bank, for his failure to prevent violations of the Bank Secrecy Act (BSA) during his tenure. According to the FinCEN order, Michael LaFontaine at various times had responsibility for overseeing U.S. Bank’s anti-money laundering [...]

March 16th, 2020|