Regulatory Alerts2015-06-26 | 2015-09Added
Assessment of Civil Money Penalty in the Matter of Lee’s Snack Shop, Inc. and Hong Ki Yi
FinCEN assesses a civil money penalty of $60,000 against Lee’s Snack Shop, Inc. and its owner Hong Ki Yi for willful violations of the Bank Secrecy Act. The entities failed to maintain an effective anti-money laundering program and failed to timely file 216 currency transaction reports during the 2010-2011 examination period, with continued untimely filings through 2014. The penalty resolves claims for these specific program and reporting violations.
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