Capital One Fined for Anti-Money-Laundering Deficiencies

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The Treasury Department on Friday said it fined Capital One Financial Corp. for “willfully failing to implement and maintain” effective anti-money-laundering controls.

As part of the settlement, Capital One admitted that it “willfully failed to file thousands of suspicious activity reports,” according to the Treasury’s Financial Crimes Enforcement Network. The allegations pertain to a check-cashing portfolio that Capital One acquired when it bought North Fork Bank in 2006.

Write to AnnaMaria Andriotis at

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