Financial Times: U.S. federal law enforcement officials stated that suspects chose Citigroup ATMs for ML due to operational advantages

US prosecutors revealed that drug traffickers chose Citigroup for ML due to its perceived weaker fraud controls. In January 2021, two California residents deposited nearly $36,000 in illicit cash at Citi ATMs by splitting the amount into smaller transactions to avoid detection. The Drug Enforcement Administration reported that the duo, allegedly part of a network laundered at least $50m, chose Citi after evaluating several banks…