Regulatory Alerts2008-04-14 | 2008-2Added
Assessment of Civil Money Penalty Against El Noa Noa Corporation
The Financial Crimes Enforcement Network assesses a $12,000 civil money penalty against El Noa Noa Corporation for failing to implement an anti-money laundering program and for failing to file 66 currency transaction reports totaling $1,025,948 between January 1, 2004, and May 31, 2005. The penalty is payable in two installments of $6,000, with the first due within five business days of the assessment date and the second due no later than June 30, 2008. This settlement resolves the entity's civil liability for violations of the Bank Secrecy Act and its implementing regulations.
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