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News Release 2015-30 | February 27, 2015

OCC Assesses $500,000 Civil Money Penalty Against First National Community Bank, Dunmore, Pennsylvania, for Bank Secrecy Act Violations

WASHINGTON โ€” The Office of the Comptroller of the Currency (OCC) today announced a $500,000 civil money penalty against First National Community Bank, Dunmore, Pennsylvania, for violations of the Bank Secrecy Act.

The OCC found that the bank engaged in violations of 12 C.F.R. ยง 21.11 when it failed to file suspicious activity reports on a timely basis in connection with certain suspicious transactions.  The transactions that were reported in the suspicious activity reports took place between 2005 and 2009.

In September 2010, the OCC issued a cease and desist order, which directed the bank to correct deficiencies in its Bank Secrecy Act and anti-money laundering programs.  The OCC is taking this action in coordination with the Financial Crimes Enforcement Network, which took a separate enforcement action against the bank.

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