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If you get caught, don’t lie: Mounties bag an MSB

RCMP Integrated Money Laundering Investigative Team charge Money Services Business owner   November 12, 2021  Toronto, Ontario  News release The Royal Canadian Mounted Police (RCMP) Greater Toronto Area (GTA), Integrated Money Laundering Investigative Team (IMLIT) charged Nishanthan Gunapalan (38) of Markham, Ontario with 4 counts of knowingly providing false or misleading information, contrary to the Proceeds of […]

FinCEN detail on its Civil Monetary Penalty

From today’s CMP assessment of $60,000,000 on Larry Dean Harmon: IV. CIVIL MONEY PENALTYFinCEN determined that Mr. Harmon, in his roles with Helix and Coin Ninja, willfully violated the BSA and its implementing regulations, as described in this ASSESSMENT and Attachment A, and that grounds exist to assess a civil […]

AUSTRAC goes after unregistered MSBs…

AUSTRAC launches campaign against illegal money transfer dealers 27 Aug 2019 AUSTRAC has launched a campaign targeting illegal money transfer dealers. Money transfer dealers that have not registered with AUSTRAC and are operating illegally are at a high risk of having their services abused by criminals groups and do not […]

FinCEN Enforcement Action: Virtual Currency Exchanges are MSBs, you know!

FinCEN Penalizes Peer-to-Peer Virtual Currency Exchanger for Violations of Anti-Money Laundering Laws Immediate Release April 18, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against Eric Powers for willfully violating the Bank Secrecy Act’s (BSA) registration, program, and reporting requirements.  Mr. Powers failed to register as a […]

Virtual Currency, IRL Penalties

  FOR IMMEDIATE RELEASE CONTACT: Steve Hudak July 26, 2017 703-905-3770 FinCEN Fines BTC-e Virtual Currency Exchange $110 Million for Facilitating Ransomware, Dark Net Drug Sales Treasury’s First Action Against a Foreign-Located Money Services Business WASHINGTON—The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for […]