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AmSouth paying $50 million to federal government.

Publication: Mississippi Business Journal
Publication Date: 25-OCT-04
Format: Online
Delivery: Immediate Online Access
Full Article Title: AmSouth paying $50 million to federal government.(Strictly Business)

Article Excerpt
BIRMINGHAM, ALA. -- AmSouth Corporation and AmSouth Bank will forfeit $40 million to the United States as part of a deferred prosecution agreement on charges of failure to report suspicious financial activity. According to the office of the U.S. Attorney, Southern District of Mississippi, this one of the largest forfeitures ever by a publicly traded bank.

AmSouth has waived indictment and agreed to the filing in the U.S. District Court for the Southern District of Mississippi of one count of failing to file suspicious activity reports (SARs) in violation of the federal Bank Secrecy Act. The...

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