Regulatory Alerts2006-07-20 | 2006-06Added
Assessment of Civil Money Penalty Against Deprez's Quality Jewelry and Loans, Inc.
The Financial Crimes Enforcement Network assesses a $25,000 civil money penalty against Deprez's Quality Jewelry and Loans, Inc. for failing to register as a money services business by the December 31, 2001 deadline and for lacking an adequate anti-money laundering program. The entity is penalized for structuring six transactions between October 2002 and September 2004 to evade currency transaction reporting requirements for amounts exceeding $10,000. Deprez Jewelry consents to this penalty to resolve the matter without admitting or denying the determinations.
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