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Ocean Bank Charged With Money Laundering – Feds Pass On Criminal Charges

August 23, 2011 By Problem Bank List Staff 1 Comment

Ocean Bank, Miami, Florida, was charged by regulators with willfully failing to establish controls to identify and report money laundering and other suspicious activity.  The Bank’s failure to properly comply with anti-money laundering laws allowed Mexican drug cartels to launder millions of dollars from illegal narcotics sales through Ocean Bank. Ocean Bank, which was founded […]

Filed Under: Banking News, FDIC, featured, Problem Bank List, problem banks Tagged With: money laundering, Ocean Bank, Ocean Bank consent order, problem bank

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