“Some banks that have non-prosecution agreements over failures to police transactions for criminal activity could see those deals withdrawn and be forced to plead guilty, a U.S. Justice Department official said on Monday.
"The criminal division will not hesitate to tear up that agreement when that action is appropriate," Assistant Attorney General Leslie Caldwell told an Association of Certified Anti-Money Laundering Specialists conference.
The USA Patriot Act in 2001 tightened anti-money laundering laws in an effort to cut off terrorist financing. The Justice Department has since entered into non-prosecution agreements (NPAs) and deferred-prosecution agreements (DPAs) with financial institutions accused of anti-money laundering failures that allowed criminal activity to flourish.”
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