{"id":19841,"date":"2013-03-27T06:34:36","date_gmt":"2013-03-27T06:34:36","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19841"},"modified":"2013-03-27T06:34:36","modified_gmt":"2013-03-27T06:34:36","slug":"when-a-bank-has-to-be-ordered-to-adequately-fund-its-anti-money-laundering-programmes-what-does-it-say-about-priorities","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/03\/27\/when-a-bank-has-to-be-ordered-to-adequately-fund-its-anti-money-laundering-programmes-what-does-it-say-about-priorities\/","title":{"rendered":"When a bank has to be ordered to adequately fund its anti-money laundering programmes what does it say about priorities?"},"content":{"rendered":"<p>I thought <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/b9559400-9623-11e2-9ab2-00144feabdc0.html#ixzz2Oiecbc5L\" target=\"_blank\">this was telling in the FT this morning<\/a>:<\/p>\n<blockquote><p>The US Federal Reserve has ordered\u00a0<a href=\"http:\/\/markets.ft.com\/tearsheets\/performance.asp?s=us:C\" data-symbol=\"us:C\">Citigroup<\/a>\u00a0to improve its compliance with anti-money laundering rules, citing deficiencies at an affiliate of Banamex, its prized Mexican banking arm.<\/p>\n<p>Citi is required to develop plans to strengthen its anti-money laundering procedures <strong>and adequately fund its risk-management programmes<\/strong>. There were no fines as part of the Fed order.<\/p><\/blockquote>\n<p>I added the emphasis.<\/p>\n<p>Citi has been more than capable of adequately funding bonuses. But not anti-money laundering procedures apparently.<\/p>\n<p>What does that say about \u00a0their priorities?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I thought this was telling in the FT this morning: The US Federal Reserve has ordered\u00a0Citigroup\u00a0to improve its compliance with anti-money laundering rules, citing deficiencies<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/03\/27\/when-a-bank-has-to-be-ordered-to-adequately-fund-its-anti-money-laundering-programmes-what-does-it-say-about-priorities\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,14],"tags":[],"class_list":["post-19841","post","type-post","status-publish","format-standard","hentry","category-banking","category-corruption"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19841"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19841\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}