National Bank of Greece agreed Friday to pay $300,000 to settle Federal Reserve Board charges that its Boston branch violated the Bank Secrecy Act.

Without admitting wrongdoing, the bank also agreed to establish a monitoring system to detect future money laundering violations. In addition, it will train its tellers, loan officers, private banking officials, and customer service agents on the act.

It also must establish a "know your customer" policy, wherein the bank will confirm customers' identity and monitor them for unusual transactions.

The phone at National Bank of Greece's Boston branch was disconnected. Other bank officials could not be reached for comment.

This is the second order in three months accusing a foreign bank's U.S. branch of money laundering violations.

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