Citigroup unit faces more probes

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Citigroup said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit.

Reuters reports that the Financial Crimes Enforcement Network, a unit of the U.S. Treasury, and the California Department of Business Oversight have asked the company for information on its compliance with the Bank Secrecy Act and anti-money laundering rules, Citigroup disclosed in an annual filing with the U.S. Securities and Exchange Commission on Wednesday.

The disclosure comes one year after Citigroup revealed a criminal probe by a federal grand jury in Massachusetts and inquiries from the U.S. Federal Deposit Insurance Corp into the matter.

To access the complete Reuters article hit the link below:

Citigroup unit probed by more authorities over money laundering

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