Regulatory Alerts2002-09-04 | 2002-02Added
Assessment of Civil Money Penalty Against Great Eastern Bank of Florida
FinCEN assesses a $100,000 civil money penalty against Great Eastern Bank of Florida for willfully violating Bank Secrecy Act suspicious activity reporting requirements by failing to file timely and complete SARs for at least 20 customers during 1997 and 1998. The bank is required to pay $50,000 within five business days of the assessment date and the remaining $50,000 no later than March 31, 2003. This payment constitutes a complete settlement of civil liability for the identified reporting violations.
Topics
Share