The U.S. Office of the Comptroller of the Currency lifted a 10-year-old consent order with Citigroup Inc. in a victory for Chief Executive Officer Jane Fraser, who’s dedicated thousands of employees to improving her bank’s risk and controls systems.

In a memo to staff obtained by Bloomberg, Fraser gave an update on the 2012 order, which was tied to the bank’s compliance with anti-money laundering laws and the Bank Secrecy Act. In the original order, the OCC had said that Citigroup failed to conduct proper due diligence on customers and was too slow to file suspicious-activity reports. The deficiencies prevented the lender from identifying risky customers and monitoring client relationships, the regulator said at the time.

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