New Jersey bank fined US$5 million for anti-money laundering failures

Tweet Pamrapo Savings Bank, a subsidiary of Pamrapo Bancorp Inc., pleaded guilty in U.S. District Court in Trenton, New Jersey, to conspiracy to violate the Bank Secrecy Act for failing to file currency transaction reports and suspicious activity reports, and willfully failing to maintain adequate anti-money laundering programs. The failures to file reports were in […]