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FinCEN amends BSA Civil Penalty regulations

FinCEN Announces Amendments to BSA Civil Penalty Regulations Relating to Reporting Foreign Financial Accounts and Transactions

The Financial Crimes Enforcement Network (FinCEN) is amending the Bank Secrecy Act (BSA) civil penalty regulations relating to the requirements for reporting foreign financial accounts and for reporting transactions with foreign financial agencies. The amendments remove civil penalty language that has been made obsolete with the enactment of statutory revisions to the computation of a monetary penalty, which include provision for a greater maximum penalty for willful violations


Federal Register Notice

Categories: Anti-Money Laundering BSA Civil Penalty Regulations FinCEN Updates


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