Discover and read the best of Twitter Threads about #AntiMoneyLaunderingRule

Most recents (1)

#FinCEN Assesses $1.5 Million Civil Money Penalty against South Dakota-chartered Kingdom Trust Company for Willful Violations of the Bank Secrecy Act

April 26, 2023: This is FinCEN’s first enforcement action against a trust company!
fincen.gov/news/news-rele…
'Kingdom Trust admits to the Statement of Facts and Violations set forth below and consents to the issuance of this Consent Order'

uh-oh, they've been caught red-handed!

'The conduct described below took place from February 15, 2016, through March 15, 2021'
'On November 16, 2020, 31 C.F.R. § 1020.210(b) went into effect & required trust companies without a Federal functional regulator (including Kingdom Trust) to comply with the AML program rule.'

#BankSecrecyAct
#AntiMoneyLaunderingRule
Read 39 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!