Regulatory Alerts2006-05-09 | 2006-04Added
Assessment of Civil Money Penalty Against Frosty Food Mart
The Financial Crimes Enforcement Network assesses a $10,000 civil money penalty against Frosty Food Mart for violating the Bank Secrecy Act. The entity failed to implement an anti-money laundering program and did not file eighty currency transaction reports totaling $1,252,807 between January 2003 and July 2004. Frosty consented to this penalty to resolve the matter without admitting or denying the determinations.
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