Articles Written by

, , , ,

FinCEN Assesses Civil Money Penalty Against First Trust Company for BSA Violations  

On April 26, 2023, the Financial Crimes Enforcement Network (“FinCEN”) assessed a $1.5 million civil money penalty on The Kingdom Trust Company (“Kingdom Trust”) for violations of the Bank Secrecy Act of 1970 and its implementing regulations (hereinafter collectively known as “BSA”).[1] Kingdom Trust is the first trust company to receive an enforcement action from […]