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Violation Tracker Individual Record

Company: Wachovia Bank N.A.
Current Parent Company: Wells Fargo
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $50,000,000
Year: 2010
Date: March 17, 2010
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Mega-Scandal: Anti-Money Laundering Deficiencies
Violation Description: Wachovia Bank entered into a deferred prosecution agreement with the U.S. Attorney's Office in the Southern District of Florida and the Asset Forfeiture and Money Laundering Section of the Criminal Division of the Department of Justice to resolve charges that it willfully failed to establish an anti-money laundering program.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Southern District of Florida
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.