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FCPA Blog Daily News

Entries in Jennifer Shasky Calvery (18)

Thursday
Apr072016

Nevada Casino ignored compliance chief, fined $1 million for ‘willful disregard’ of AML laws

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) on Tuesday fined the Sparks Nugget $1 million after the casino admitted that it willfully violated the anti-money laundering (AML) provisions of the Bank Secrecy Act.

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Thursday
Feb252016

Rothstein fallout: Florida bank penalized $4 million for ‘willful’ AML violations

A Florida bank that failed to file suspicious activity reports on time for accounts used in a giant Ponzi scheme will pay $4 million to settle federal civil charges that its defective compliance program led to violations of anti-money laundering laws.

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Thursday
Jan142016

AML push: FinCEN targets anonymous, cash real estate buys in NYC, Miami

The Treasury Department's Financial Crimes Enforcement Network issued new rules Wednesday to force U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential real estate in the Borough of Manhattan in New York City and in Miami-Dade County, Florida.

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Monday
Dec142015

China, U.S. sign agreement to expand AML cooperation

The U.S. Treasury Department's Financial Crimes Enforcement Network and its counterpart in China signed a memorandum of understanding Friday for expanded U.S.- China collaboration to fight money laundering and terrorism financing.

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Tuesday
Sep082015

Caesars Palace pays $8 million penalty for compliance 'blind spot'

The Treasury Department's Financial Crimes Enforcement Network said Tuesday that the owner of Caesars Palace casino in Las Vegas will pay an $8 million civil penalty for "willful and repeated violations" of the anti money-laundering provisions of the Bank Secrecy Act.

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Monday
Jul272015

Tanzania bank is ‘shocked’ after ‘unexplained’ FinCEN ban

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) Thursday imposed “special measure five” against Tanzania-based FBME Bank Ltd, formerly known as the Federal Bank of the Middle East.

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Thursday
May072015

Ripple Labs becomes first virtual money exchange fined by FinCEN

Image courtesy of RippleThe Treasury Department's Financial Crimes Enforcement Network (FinCEN) fined Silicon Valley star Ripple Labs $700,000 Tuesday for selling its virtual currency without registering with FinCEN and for not having an anti-money laundering program.

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Monday
Apr272015

FinCEN orders enhanced AML for 700 Miami area businesses

The Financial Crimes Enforcement Network issued a Geographic Targeting Order (GTO) to about 700 Miami businesses imposing stricter reviews and reporting of cash transactions that might be tied to money laundering schemes.

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Monday
Mar092015

FinCEN fines Trump Taj Mahal $10 million for AML and reporting offenses

The Financial Crimes Enforcement Network (FinCEN) fined the Trump Taj Mahal Casino Resort $10 million Friday for willful and repeated violations of the Bank Secrecy Act.

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Wednesday
Mar042015

FinCEN: Bank linked to ‘cash for kids’ scheme ignored red flags

The First National Community Bank of Dunmore, Pennsylvania (FNCB) admitted that it failed to file suspicious activity reports on transactions linked to the judicial corruption scheme known as "cash for kids" that spanned more than five years.

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Tuesday
Jan272015

Oppenheimer fined $20 million for AML failures in penny stock trades

The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) assessed a $20 million civil penalty against Oppenheimer & Co., Inc. for "willfully violating" the Bank Secrecy Act.

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Monday
Dec222014

Former MoneyGram compliance chief penalized $1 million for ‘willful inaction’

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) imposed a $1 million civil penalty against the former chief compliance officer for MoneyGram International Inc.

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