Texas Bank Slammed for BSA/AML Violations
OCC slaps CommunityBank of Texas with an enforcement order for deficiencies in the bank's Bank Secrecy Act/anti-money laundering program. The bank has been ordered to shore up its BSA staffing, program, customer due diligence, enhanced due diligence, customer risk identification program, implement a monitoring system, get the system independently validated, implement a BSA audit program, conduct training, and – always the kicker – conduct a lookback project going back to 2015. [8/21/20]