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- Buyer Banking Firm (NYSE:CUBI) stated on Friday it has appointed Allen Love as its chief compliance and anti-money laundering officer.
- In accordance with CUBI, Love is a former particular agent with the Inside Income Service-Prison Investigation Division (IRS-CID) with an in depth background in monetary crime threat administration.
- On Thursday, the Federal Reserve took enforcement motion towards the financial institution, saying the corporate didn’t do sufficient to handle anti-money laundering and buyer due diligence dangers and compliance associated to its digital asset companies.
- CUBI added that Love will work to strengthen Financial institution Secrecy Act and Anti-Cash Laundering (BSA/AML) protocols for the corporate’s digital asset enterprise in help of the financial institution’s current agreements with the Federal Reserve Financial institution of Philadelphia and the Commonwealth of Pennsylvania.
- Press launch
