Regulatory Alerts2021-08-10 | 2021-02Added
Assessment of Civil Money Penalty Against BitMEX Entities for BSA Violations
FinCEN assesses a $100 million civil money penalty against HDR Global Trading Limited, 100x Holdings Limited, ABS Global Trading Limited, Shine Effort Inc. Limited, and HDR Global Services (Bermuda) Limited, operating as BitMEX, for willfully violating the Bank Secrecy Act. The Respondents failed to implement a compliant anti-money laundering program, maintain a customer identification program, and report suspicious activity between November 2014 and December 2020. The penalty is imposed pursuant to a Consent entered into by BitMEX, which agrees to pay the amount and comply with specified Undertakings.
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