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Fed Ends Scotiabank’s Anti-Money Laundering Enforcement Action

May 23, 2023, 3:13 PM UTC
Katanga Johnson
Katanga Johnson
Bloomberg News

The Federal Reserve said Tuesday that it ended an enforcement action against The Bank of Nova Scotia related to the lender’s anti-money laundering controls.

The Fed in 2015 said that the Canadian bank and its New York arm had lapses in risk management and compliance systems.

To contact the reporter on this story:
Katanga Johnson in Washington at kjohnson655@bloomberg.net

To contact the editor responsible for this story:
Ben Bain at bbain2@bloomberg.net

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