WASHINGTON - The Office of the Comptroller of the Currency has ordered a Colorado bank to tighten its anti-money-laundering controls.In a pact made public last week, $64 million-asset First National Bank of Telluride agreed to develop a system of internal controls that would improve its compliance with the Bank Secrecy Act. The agreement called for tougher procedures for screening new customers, closer monitoring of accounts for suspect transactions, and enforcement of rules prohibiting transactions with out-of-favor foreign governments.

The three-branch bank also agreed to hire a compliance officer acceptable to the OCC, to improve its internal audit procedures, to develop a program for complying with consumer protection laws, and to curtail all illegal or improper acts cited in the bank's Sept. 14 examination report. The agreement was signed Oct. 26 by six of First National's directors.

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