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FCPA Blog Daily News

Entries in U.S. Treasury Department (5)

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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Friday
Mar272015

OFAC fines PayPal $7.7 million for 486 sanctions violations

PayPal will pay $7.7 million to settle charges by the U.S. Treasury Department's Office of Foreign Assets Control that it violated trade sanctions against Iran, Sudan, and Cuba.

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Wednesday
Dec032014

FinCEN fines tiny Florida credit union $300,000 for huge AML failures

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) assessed a $300,000 civil penalty against North Dade Community Development Federal Credit Union in Miami Gardens, Florida for violating the Bank Secrecy Act (BSA).

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Wednesday
Sep242014

Under U.S. sanctions, iPhones and Facebook are OK for Iran. But no sales agents

The United States government has imposed tough long-term trade sanctions on Iran because of its nuclear program. But our policy makers want Iranian citizens to have access to the Internet, mobile phones, chat services, and other social media. That, after all, is how news spreads and change happens.

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Monday
Sep152014

FinCEN advisory: Financial red flags for human smuggling and human trafficking

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued an advisory Thursday to help financial institutions detect and report suspicious activity that could be related to human smuggling or human trafficking.

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