An Illinois bank’s deficient compliance program that drew the attention of federal regulators was the subject of a recent ACAMS moneylaundering.com article featuring Harris Beach attorney Constantine P. Lizas.

Constantine was consulted because he is a former acting supervisory counsel in the FDIC’s enforcement section. He told the publication the case against Vermont State Bank of Vermont, Illinois, looks like “more than a case of not dotting the ‘i’s and crossing the ‘t’s… when I look at the internal controls allegations, it doesn’t look like it’s an independent compliance function.”

Read more about what Constantine told ACAMS moneylaundering.com about how the FDIC handles anti-money laundering examinations.