E-Trade was hit with a $1 million fine by The Financial Industry Regulatory Authority (FINRA), for not implementing protections that can identify suspicious securities transactions.According to The Wall Street Journal, E-Trade was accused of failing to have "adequate antimoney-laundering programs in place between January 2003 and May 2007." FINRA states that the brokerage firm relied on manual monitoring instead of the more efficient automated tools.
No comments:
Post a Comment