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Saddle River Valley Bank

NJ 2013 Community Banks / Credit Unions
DOJ Fraud
Penalty
$1.5 billion

Outcome

Saddle River Valley Bank Agrees To $8.2 Million Penalty For Money Laundering Violations

Details

Saddle River Valley Bank — DOJ Enforcement (2013)

DOJ took enforcement action against Saddle River Valley Bank in NJ in 2013 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $1.5 billion

Violation types: Fraud
Entity type: Financial Institution
Penalty type: Settlement
Location: NJ

Source: DOJ Press Release — Saddle River Valley Bank Agrees To $8.2 Million Penalty For Money Laundering Violations

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Saddle River Valley Bank Agrees To $8.2 Million Penalty For Money Laundering Violations

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