FinCEN Fines First Card Club for Bank Secrecy Act Violations
The Financial Crimes Enforcement Network this week announced its first settlement with, and assessment against, a “card club” gaming establishment for violations of the Bank Secrecy Act (BSA). The settlement and FinCEN’s assessment requires Oaks Card Club to pay a fine of $650,000 for willful violations of the BSA.
Related articles
-
News BriefCVS hit with nearly $1 billion fine in Omnicare false claims verdict
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.
-
News BriefOFAC fines Harman Industries $1.4M for violating U.S. sanctions on Iran
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
-
News BriefFCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes ...