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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 […]

And this is why banks de-risk MSBs…

Department of Justice U.S. Attorney’s Office Middle District of Pennsylvania FOR IMMEDIATE RELEASE Thursday, October 27, 2016 Former Owners Of Money Transmitter Business Sentenced For Conspiring To Structure Financial Transactions   SCRANTON – The United States Attorney’s Office for the Middle District of Pennsylvania announced that the former owners of […]

MAS charges 3 with running unlicensed MSB

Enforcement Actions against Unlicensed Remittance Operators Singapore, 22 September 2015… Two women and one man, aged between 48 to 59, will be charged in Court for their suspected involvement in carrying on remittance businesses without a valid remittance licence issued by the Monetary Authority of Singapore (MAS). They are suspected […]

Small MSB, Small FinCEN CMP: $12,000

FinCEN assessed a Civil Monetary Penalty (CMP) of $12,000 on King Mail & Wireless, Inc. and its owner for “ignoring” their AML responsibilities. King Mail, as well as another MSB run by the owner, is now closed. The firm executed millions of dollars in transactions to Yemen without filing any […]