On November 19th, the FDIC and the Financial Crimes Enforcement Network announced the assessment of concurrent civil money penalties of $15 million against First Bank of Delaware for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. The Bank also settled civil charges, on related activities, brought by the U.S. Department of Justice. All penalties will be satisfied by a $15 million payment to the United States Treasury. The FDIC and FinCEN determined that the bank failed to implement an effective BSA/AML compliance program with internal controls reasonably designed to detect and report evidence of money laundering and other suspicious activity. Specifically, the bank failed to adequately oversee third-party payment processor relationships and related products and services in a manner commensurate with associated risks. The civil money penalty is the result of the bank's history of noncompliance with laws and regulations and its numerous violations of the BSA. Joint Press Release.