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Tuesday, October 1, 1985
Volume:
1
Issue:
2
Abstract:
The Department of Treasury has fined Riggs National Bank (Riggs) for violations of the Bank Secrecy Act (BSA). The fine amounted to $269,750 for 1,226 violations that occurred between 1980 and 1985. According to a Riggs spokesman, most of the violations concerned bulk sales and purchases of foreign currency with currency dealers and foreign banks.