Evolve Bank & Trust to refit BSA/AML & OFAC programs under cease and desist order

Arkansas, USA-based Evolve Bank & Trust and holding company Evolve Bancorp will engage in a root and branch rebuild of its US Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance frameworks in line with a cease and desist order, signed, on 11 June, with the Federal Reserve Board and the Arkansas State Bank Department.

Arkansas, USA-based Evolve Bank & Trust and holding company Evolve Bancorp will engage in a root and branch rebuild of its US Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance frameworks in line with a cease and desist order, signed, on 11 June [2024], with the Federal Reserve Board and the Arkansas State Bank Department. [1]