Regulatory Alerts2011-12-08 | 2011-10Added
Assessment of Civil Money Penalty Against Sarith Meas
FinCEN assessed a $12,500 civil money penalty against Sarith Meas for operating as an unregistered money transmitter and failing to implement an anti-money laundering program from January 2006 through October 2010. The penalty resolves violations of the Bank Secrecy Act regarding registration requirements and the failure to establish written internal controls, training, and independent audits for over two million dollars in funds transfers. Meas consented to this assessment without admitting or denying the factual determinations, agreeing to pay the amount in five equal installments of $2,500 to the United States Department of the Treasury.
Topics
Share