U.S. Department Of The Treasury
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Feds: Gibraltar Private Bank still must comply with Bank Secrecy and Anti-Money Laundering acts
MIAMI – Miami-based Gibraltar Private Bank and Trust Co. was fined $4 million, including $2.5 million in civil money penalties (CMP), earlier this year by the U.S. government over lapses that included not reporting suspicious transactions linked to a Ponzi scheme, but additional steps are needed to rectify the situation.