GC fined for concealing failure to comply with Bank Secrecy Act

On July 23, 2019, the Office of the Comptroller of the Currency announced a consent order of prohibition and $50,000 civil money penalty against the former general counsel of Rabobank, N.A. for participating in the concealment of a third party report assessing the Bank’s program for compliance with the Bank Secrecy Act, in violation of 12 USC 281.  The Notice of Charges also alleges that the Daniel Weiss, the former general counsel, made false statements to the OCC in violation of 18 USC 1001.  In 2018, the Bank pleaded guilty to conspiracy to obstruct an OCC examination, and paid forfeitures and penalties totaling over $50 million.

OCC press release | Consent order | Notice of charges