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Fed tells Citi to improve anti-laundering systems

By Christina Rexrode
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NEW YORK (AP) — The Federal Reserve is ordering Citigroup to improve its plans for preventing money laundering.

In an order made public on Tuesday, the Fed said that Citi had agreed to fix “deficiencies” in its anti-money laundering controls. The bank has two months to submit a written plan addressing steps such as policies and funding for personnel.

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