Sunday 22nd December 2024
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Comsure operates in:the UK, Jersey, Guernsey

U.S. bank regulator reprimands Japan’s MUFG over money-laundering lapses

The U.S. Office of the Comptroller of the Currency (OCC) said on Friday it had reprimanded MUFG Bank, Ltd. for lapses in its anti money-laundering controls and other compliance issues at its New York, Chicago and Los Angeles branches.

The Tokyo-based bank did not accept or deny the charges dating back to 2016. The bank has agreed “to take comprehensive corrective actions to improve their…compliance program,” the OCC said in a statement.

MUFG Bank said in a statement on Friday it has made investments to complete the OCC’s remediation, including the establishment of a division to oversee all global financial crimes compliance.

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