WASHINGTON (Kyodo) U.S. financial regulators took enforcement action Monday against Bank of Tokyo-Mitsubishi UFJ and some of its U.S. operations for their failure to comply with programs against money-laundering.
The regulators that issued the separate but coordinated actions were the Federal Deposit Insurance Corp., the Federal Reserve Board and the New York State Banking Department. The FDIC and NYSBD issued a joint cease-and-desist order against Bank of Tokyo-Mitsubishi UFJ Trust Co., a New York State-chartered banking corporation, the regulators said.
BTM UFJ Trust, without admitting or denying any wrongdoing, consented to the order, which concluded that the bank failed to implement adequate Bank Secrecy Act and compliance programs against money-laundering, the statement said.