FinCEN Adjusts Penalties for Inflation
The Financial Crimes Enforcement Network adjusted its civil monetary penalties for inflation, the agency said in a notice this week. The new amounts include higher maximum penalties for various record-keeping and banking violations associated with funds transfers, which can sometimes…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
violate U.S. sanctions. It also for the first time outlines adjusted penalty amounts for violations of the agency's new beneficial ownership information reporting requirements (see 2401050023). The changes take effect Jan. 25.