The U.S. Treasury Department’s financial intelligence and money laundering watchdogs announced settlements reached with a virtual currency exchange platform for violations and failure to monitor potential illegal activity. The platform agreed to pay more than $29 million to the Financial Crimes Enforcement Network. Over $24 million of that payment will be credited towards the company’s settlement with the Office of Financial Assets Control. The enforcement actions come after investigations concluded the company willfully violated sanctions programs, as well as the Bank Secrecy Act’s anti-money laundering and suspicious activity reporting requirements. To learn more: https://bit.ly/3MCIDlK
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