A South Florida bank is working with federal regulators to correct previously unannounced deficiencies in its anti-money laundering policies, including some oversights that the bank’s top executive said could have “theoretically, possibly” allowed dirty money to flow through the institution.
Banesco USA, the Coral Gables-based unit of Venezuelan financial giant Banesco Banco Universal S.A., said in a statement Friday that it agreed to a consent order finalized earlier this month with the Federal Deposit Insurance Corp., which asked the bank to fix “control, staffing and administrative deficiencies in its Bank Secrecy Act program.”
