Brokerage firm Interactive Brokers LLC agreed to pay $38 million in penalties to settle charges related to lapses in Anti-Money Laundering (AML) requirements and failure to flag suspicious transactions, according to a recent announcement by the Securities and Exchange Commission (SEC).
The announcement said that, over a one-year period, Interactive Brokers failed to file about 150 Suspicious Activity Reports to the SEC and also did not properly investigate suspicious activity as required under procedure.
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