HOUSE_OVERSIGHT_024129.jpg
1.86 MB
Extraction Summary
0
People
9
Organizations
0
Locations
4
Events
2
Relationships
4
Quotes
Document Information
Type:
Report / presentation slide (protiviti)
File Size:
1.86 MB
Summary
This document is page 23 of a report by Protiviti, likely produced for the House Oversight Committee, detailing common deficiencies in Anti-Money Laundering (AML) compliance programs. It cites specific enforcement actions and financial penalties against E*TRADE (2008-2009) and Sigue Corporation (2008) for failures in suspicious activity monitoring and reporting. The text outlines systemic violations such as failure to file SARs, lack of independent testing, and inadequate training, serving as a reference for regulatory expectations.
Organizations (9)
Timeline (4 events)
January 2008
FinCEN assessed a $12 million penalty and DOJ assessed a $15 million forfeiture against Sigue Corporation.
USA
Relationships (2)
Listed together in FINRA penalty assessment.
FinCEN assessed penalty against Sigue.
Key Quotes (4)
"Alerts triggered in the automated monitoring system were limited to those with money movements, thereby eliminating detection and review of potentially suspicious matched or washed trades."Source
HOUSE_OVERSIGHT_024129.jpg
Quote #1
"The U.S. Department of Justice assessed a $15 million forfeiture and entered into a Deferred Prosecution Agreement (DPA)."Source
HOUSE_OVERSIGHT_024129.jpg
Quote #2
"Failure to implement a risk-based suspicious activity monitoring program commensurate with dollar volume and geographic reach"Source
HOUSE_OVERSIGHT_024129.jpg
Quote #3
"Structuring currency transactions to evade BSA reporting requirements"Source
HOUSE_OVERSIGHT_024129.jpg
Quote #4
Discussion 0
No comments yet
Be the first to share your thoughts on this epstein document