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Friday, May 5, 2023
Volume:
39
Issue:
5
Abstract:
On April 26, 2023, the Financial Crimes Enforcement Network (FinCEN) and The Kingdom Trust Company (Kingdom Trust) entered into a consent order, imposing a civil money penalty and requiring Kingdom Trust to take actions to remediate its deficiencies.[1]
[1] FinCEN, FinCEN Assesses $1.5 Million Civil Money Penalty against Kingdom Trust Company for Violations of the Bank Secrecy Act, Press Rel., Apr. 26, 2023