Federal and state authorities are investigating a handful of
major American banks for failing to monitor cash transactions in and out of
their branches, a lapse that may have enabled drug dealers and terrorists to
launder tainted money, according to officials who spoke on the condition of
anonymity.
These officials say they are beginning one of the most
aggressive crackdowns on money-laundering in decades, intended to send a signal
to the nation’s biggest banks that weak compliance is unacceptable.
Regulators, led by the Office of the Comptroller of the
Currency, are close to taking action against JPMorgan Chase for insufficient safeguards, the officials
said. The agency is also scrutinizing several other Wall Street giants,
including Bank of America….
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