Explore news updates, Knowledge Center articles and case studies related to BSA/AML…

Optimizing a Community Bank’s AML Alert Monitoring System

ADI was engaged by a community bank client to help refine its AML transaction monitoring system, with a goal of improving effectiveness and efficiency in generating alerts of suspicious activity. ADI executed a multi-phase analysis plan to develop, test and implement changes to the system that enhanced the performance of the AML monitoring system, satisfying […]


Long Island Mortgage Banker Sentenced to 12+ Years for $100M Mortgage Fraud Scheme

Aaron Wider, the former owner and CEO of the mortgage bank HTFC Corp. in Garden City, N.Y., was sentenced by a U.S. District judge to 150 months’ imprisonment for conspiracy to commit bank fraud for defrauding financial institutions out of over $30 million in mortgage proceeds. Wider, who was convicted on Jan. 25, 2016, was […]


West Virginia Community Bank to forfeit $1.36M for BSA violations

On March 1, 2017, the Department of Justice (DOJ) announced a forfeiture action on First National Bank of Williamson in the amount of $1.36 million related to violations under the Bank Secrecy Act (BSA). The action concerned structuring transactions that occurred between April 2006 and November 2008. The subject customer admitted in court that the […]


Merchants Bank Fined by OCC and FinCEN for Widespread BSA/AML Program Failures

On February 27, 2017,  the Office of the Comptroller of the Currency (OCC) issued a Consent Order to Merchants Bank of California, N.A.  This Order included an Order for a Civil Money Penalty of $1 million. This Consent Order is the third from the OCC to Merchants Bank since 2010.  In 2010, 2014, and now, […]


Western Union To Pay $586M for AML Violations and Consumer Fraud

Western Union, the largest money service business in the world, agreed to a half-billion dollar settlement over charges they failed to protect customers from fraud and permitted their agents to illegally launder money for customers. Western Union will pay a $586 million fine after pleading guilty to charges of willfully failing to run an effective anti-money laundering […]