WASHINGTON — The Federal Reserve Board ordered Citigroup (NYSE: C) to make several improvements to its anti-money-laundering programs, charging that the company "lacked effective systems of governance and internal controls" to monitor its compliance with the Bank Secrecy Act.

The Fed's 10-page consent order against Citi is yet another chapter in a catalog of AML-related mishaps for the largest institutions. Though the enforcement action provided little detail on the exact findings by the central bank, it follows other actions taken by other regulators against two of Citi's subsidiaries: Citibank, of Sioux Falls, S.D., and Banamex USA, which is based in California. The order originates from findings last year by the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.

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