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Timestamp: 2019-03-23 14:48:55
Document Index: 398935040

Matched Legal Cases: ['§ 5318', '§ 5318', '§ 5318', '§ 1022', '§ 5318', '§ 5318', '§ 1020', '§ 2', '§ 1022']

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In the Matter of BTC-E a/k/a Canton Business Corporation and Alexander Vinnik
laundering, conspiracy to commit money laundering, engaging in unlawful monetary transactions ... the MSB from being used to facilitate money laundering and the financing of terrorist activities.13 BTC-e ... , and internal controls reasonably designed to prevent the MSB from facilitating money laundering. The BSA ...
Operations, Reg. Reporting
$122,003,314
SAR Filing Deficiency, Theft / Misappropriation, Fraud
Merchants. The Bank did so without adequately assessing the money laundering risk of these customers ... Merchants failed to implement a due diligence program that would mitigate the money laundering risks of its ... from assessing the money laundering risk related to its customer’s commingled transactions. Prior ...
designed to prevent the MSB from being used to facilitate money laundering and the financing of terrorist ... controls sufficient to reasonably assure that the institution did not facilitate money laundering ... or suspend agent locations involved in potential money laundering and fraud transactions, and to implement ...
Wire Fraud, Fraud
for money laundering. When Bethex expanded its customer base to include these MSBs, it did not take steps ... , leaving the Credit Union particularly vulnerable to money laundering. II. DETERMINATIONS From January 1 ... the risks of money laundering and terrorist financing. Bethex had a history of AML compliance deficiencies ...
it susceptible to money laundering and terrorist financing activity. As discussed in more detail below, IRS ...
In the Matter of Sparks Nugget, Inc., d/b/a John Ascuaga' Nugget
program that is reasonably designed to prevent the institution from being used to facilitate money laundering and the financing of terrorist activities. 31 U.S.C. §§ 5318(a)(2) and 5318(h); 31 C.F.R. ...
In the Matter of Kustandy Rayyan D/B/A Thriftway Food Mart
Thriftway failed to establish and implement an effective written anti- money laundering program by failing ... to facilitate money laundering and the financing of terrorist activities.7 Mr. Rayyan was required to implement ...
In the Matter of Gibraltar Private Bank and Trust Company
for appropriate personnel.9 Gibraltar’s anti- money laundering compliance program also did not include a customer ... its money laundering risks and design an effective anti-money 6 31 U.S.C. §§ 5318(a)(2), 5318(h); 31 ... activity. FinCEN and law enforcement agencies use SARs to investigate money laundering, terrorist financing ...
Ponzi or Pyramid
In the Matter of B.A.K. Precious Metals, Inc.
to appropriately assess its money laundering and terrorist financing risks, conducted almost no due diligence ... financial system to serious risks of money laundering and terrorist financing, given its transactional ... Karaoglanyan, and Arman Karaoglanyan failed to implement and maintain an effective anti- money laundering ...
In the Matter of Desert Palace, Inc. d/b/a Caesars Palace
that is reasonably designed to prevent the institution from being used to facilitate money laundering ... significant money laundering risks because of the wealthy nature of the clientele and 5 the significant levels ... presented a significantly higher level of money laundering risk than ordinary gaming areas. Despite ...
In the Matter of Lee's Snack Shop, Inc. and Hong Ki Yi
and Mr. Yi also failed to conduct a BSA compliance and money laundering risk assessment, and thus could ... laundering (“AML”) program that is reasonably designed to prevent the MSB from being used to facilitate money laundering and the financing of terrorist activities. 31 U.S.C. §§ 5318(a)(2), 5318(h); 31 C.F.R. § 1022.210. ...
In the Matter of Bank of Mingo
assess its money laundering risk or design an anti- money laundering compliance program to address those ... and law enforcement use SARs to investigate money laundering, terrorist financing and other serious ... to suspicious and potentially illicit activities. Mingo also failed to assess the money laundering risks ...
and Implement an Effective Anti- Money Laundering Program The BSA and its implementing regulations require ...
used to facilitate money laundering and the financing of terrorist activities. 31 U.S.C. §§ 5318(a)(2) ... must provide for independent review to monitor and maintain an adequate anti- money laundering program. ...
laundering (AML) program designed to protect its products from use by money launderers or terrorist ... and their employees; significant fraud; third-party money launderers; transnational organized crime and security ... system from illicit use and combat money laundering and promote national security through the collection ...
In the Matter of Aurora Sunmart Inc. and Jamal Awad
Money Laundering Program As of July 24, 2002, the Bank Secrecy Act and its implementing regulations ... program that is reasonably designed to prevent the MSB from being used to facilitate money laundering ... risk and the potential for money laundering. Aurora Sunmart’s written AML compliance program lacked ...
SARs to, among other things, investigate money laundering, terrorist financing and other serious ...
In the Matter of Oppenheimer & Co., Inc.
of the USA PATRIOT Act against three foreign financial institutions of primary money laundering concern. 31 ... diligence, conduct assessments of money laundering risks for each account, and comply with suspicious ... , or type of account is of “primary money laundering concern,” to issue rules imposing “special measures ...
AML Compliance, Supervision / Compliance
In the Matter of Thomas E. Haider
involved in fraud and/or money laundering.  Failure to Terminate Known High-Risk Agents/Outlets. Haider ... involved in fraud and/or money laundering, including outlets that Haider himself was on notice posed an unreasonable risk of fraud and/or money laundering.  Failure to File Timely SARs. Haider failed to ensure ...
Telemarketing, Operations
In the Matter of North Dade Community Development Federal Credit Union
money laundering program, 31 U.S.C. § 5318(h); 31 C.F.R. § 1020.210; (b) failed to develop and implement ... money laundering and terrorist financing risks or design an anti-money laundering compliance program ... independent audits that identified money laundering and terrorist financing risks in 2012, it did not complete ...
In the Matter of BPI, Inc.
money laundering and the financing of terrorist activities. 31 U.S.C. §§ 2 In civil enforcement ...
In the Matter of Mian, Inc. d/b/a Tower Package Store
that is reasonably designed to prevent the MSB from being used to facilitate money laundering and the financing ...
In the Matter of New Milenium Cash Exchange, Inc. and Flor Angella Lopez
designed to prevent the MSB from being used to facilitate money laundering and the financing of terrorist ...
Conflicts of Interest, Supervision / Compliance
In the Matter of Saleh H. Adam dba Adam Service
of the Requirement to Establish and Implement a Written Anti- Money Laundering Program As of July 24, 2002, the Bank ... to facilitate money laundering and the financing of terrorist activities. 31 C.F.R. § 1022.210(a). Adam Service ... to Congress, which classifies countries based on money laundering risk. See http://www.state.gov/documents ...
In the Matter of Saddle River Valley Bank
laundering program reasonably designed to manage risks of money laundering and other illicit activity ... an effective anti- money laundering program reasonably designed to identify and report transactions through the CDC accounts that exhibited indicia of money laundering or other suspicious activity, in light ...