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Texas Bank To Pay $8M Fine Over Money Laundering Lapses

By Al Barbarino ( December 16, 2021, 4:49 PM EST) -- The CommunityBank of Texas NA admitted in an $8 million settlement struck Thursday with the Financial Crimes Enforcement Network and federal banking regulators that it failed to maintain an adequate program to prevent money laundering, resulting in failures to report millions of dollars worth of suspicious transactions that were tied to money laundering, tax evasion and illegal gambling....

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