Regulatory Alerts2020-10-19 | 2020-2Added
Assessment of Civil Money Penalty Against Larry Dean Harmon d/b/a Helix
FinCEN imposes a $60,000,000 civil money penalty on Larry Dean Harmon for willfully violating the Bank Secrecy Act through his operation of Helix and Coin Ninja. The violations include failing to register as a money services business, implementing an effective anti-money laundering program, and reporting suspicious activity from 2014 through 2019. The penalty reflects the serious nature of the offenses, which involved facilitating illicit transactions with darknet marketplaces and laundering over $311 million in bitcoin.
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