First Farmers & Commercial Bank ordered to build effective AML program by US regulator

A Tennessee community bank has acceded to a consent order from the Federal Deposit Insurance Corporation that calls for a wholesale reconstruction of its anti-money laundering/counter financing of terrorism (AML/CFT) framework to comply with the Bank Secrecy Act.

A Tennessee community bank has acceded to a consent order [1] from the Federal Deposit Insurance Corporation (FDIC) that calls for a wholesale reconstruction of its anti-money laundering/counter financing of terrorism (AML/CFT) framework to comply with the Bank Secrecy Act (BSA).