Regulatory Alerts2022-10-11 | 2022-03Added
Consent Order Imposing Civil Money Penalty Against Bittrex, Inc.
FinCEN imposes a civil money penalty on Bittrex, Inc. for willfully violating the Bank Secrecy Act by failing to maintain an effective anti-money laundering program and by failing to file required suspicious activity reports between February 2014 and December 2018. The order details that Bittrex processed over 116,000 transactions valued at more than $260 million with entities in OFAC-sanctioned jurisdictions and failed to detect transactions involving darknet marketplaces and ransomware. Bittrex admitted to the violations and consented to the issuance of the Consent Order.
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