RegAlert2022-01-21
Added · Updated
Financial Crimes Enforcement Network; Inflation Adjustment of Civil Monetary Penalties
The Financial Crimes Enforcement Network adjusts maximum civil monetary penalties within its jurisdiction to reflect inflation, as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990. Effective January 24, 2022, the penalties are increased by multiplying previous amounts by the 2022 adjustment multiplier of 1.06222 and rounding to the nearest dollar. The updated penalty amounts apply to violations assessed on or after the effective date, with specific new ranges established for various Bank Secrecy Act and related statutory violations.
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Source: Financial Crimes Enforcement Network — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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FINCEN published 7 documents in the last 30 days. We email you each new one the day it's published.