Violation Tracker Individual Record

Company: 
Wachovia Bank N.A.
Current Parent Company: 
Wells Fargo
Penalty: 
$50,000,000
Year: 
2010
Date: 
March 17, 2010
Primary Offense: 
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 Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.