Banco de Chile controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
2009
Civil action over alleged concealment of Pinochet funds
The Chilean government sued Banco de Chile and three other banks, alleging negligent or deliberate assistance in concealing approximately $26 million in funds attributed to former dictator Augusto Pinochet. The supplied reference describes the filing and allegations but does not establish a complete final disposition.
2005
U.S. anti-money-laundering enforcement involving Pinochet-linked accounts
The OCC concluded that Banco de Chile-New York and Banco de Chile-Miami did not timely and adequately investigate, monitor, and report suspicious activity involving accounts connected with Augusto Pinochet, his family, and associates. The OCC issued a cease-and-desist order for Bank Secrecy Act violations; FinCEN imposed a $3 million penalty on the bank, and a former New York general manager received a separate $200,000 civil penalty.