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Citigroup hit by U.S. regulator on bank secrecy
April 5, 2012 / 2:37 PM / 6 years ago

Citigroup hit by U.S. regulator on bank secrecy

WASHINGTON, April 5 (Reuters) - Citigroup Inc has agreed to take steps to clean up its compliance with bank secrecy and money laundering laws as part of an agreement with the Office of the Comptroller of the Currency (OCC), the OCC announced on Thursday.

The OCC, a U.S. bank regulator, said that Citigroup’s Citibank had violated requirements that it maintain an adequate compliance program and file suspicious activity reports.

Citibank will not pay a monetary penalty as part of the agreement, the OCC said.

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