Whoever said, “it’s going to get worse before it gets better” has certainly, agonizingly watched the same group of people repeatedly make the same mistake.
News last week that the Office of the Comptroller of the Currency (OCC) lifted a consent order against Citi may have led outside observers to believe the bank’s much-maligned internal controls — at least in connection to anti-money laundering efforts — have turned a corner, validating the billions of dollars Citi has poured into updating its payments infrastructure.
