Regulatory Alerts2008-01-28 | 2008-1Added
Assessment of Civil Money Penalty Against Sigue Corporation and Sigue, LLC
The Financial Crimes Enforcement Network assesses a $12,000,000 civil money penalty against Sigue Corporation and Sigue, LLC for violations of the Bank Secrecy Act. The penalty addresses Sigue's failure to implement an effective anti-money laundering program and its failure to accurately file suspicious activity reports between November 2003 and June 2006. The assessment is resolved through a consent agreement where the penalty is deemed satisfied by a portion of a $15,000,000 forfeiture payment to the Department of Justice.
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