Statutes, codes, and regulations
Code of Federal Regulations
Title 31 - MONEY AND FINANCE: TREASURYSubtitle B - REGULATIONS RELATING TO MONEY AND FINANCEChapter X - FINANCIAL CRIMES ENFORCEMENT NETWORK, DEPARTMENT OF THE TREASURYPart 1010 - GENERAL PROVISIONS
Subpart H - ENFORCEMENT; PENALTIES; AND FORFEITURE
Section 1010.821 - Penalty adjustment and table

31 C.F.R. § 1010.821

Download
PDF
Current through September 30, 2024
Section 1010.821 - Penalty adjustment and table
(a)Inflation adjustments. In accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990, 28 U.S.C. 2461 note, ("FCPIA Act"), as further amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, FinCEN has set forth in paragraph (b) of this section adjusted maximum penalty amounts for each civil monetary penalty provided by law within its jurisdiction that is subject to the FCPIA Act. The adjusted civil monetary penalty amounts replace the amounts published in the statutes authorizing the assessment of penalties.
(b)Maximum civil monetary penalties. The statutory penalty provisions and their adjusted maximum amounts or range of minimum and maximum amounts are set out in Table 1. The last column in the table provides the newly effective maximum penalty amounts or range of minimum and maximum amounts. These maximum penalty amounts do not, however, limit the total amount of a penalty in the case of a penalty that may be imposed for each day a violation continues.

Table 1 to § 1010.821 -Penalty Adjustment Table

U.S. Code citationCivil monetary penalty descriptionPenalties as last
amended by statute		Maximum penalty amounts or range of minimum and maximum penalty amounts for penalties assessed on or after January 25, 2024
12 U.S.C. 1829b(j) Relating to Recordkeeping Violations for Funds Transfers$10,000$25,597
12 U.S.C. 1955 Willful or Grossly Negligent Recordkeeping Violations10,00025,597
31 U.S.C. 5318(k)(3)(C) Failure To Terminate Correspondent Relationship with Foreign Bank10,00017,315
31 U.S.C. 5321(a)(1) General Civil Penalty Provision for Willful Violations of Bank Secrecy Act Requirements25,000-100,00069,733-278,937
31 U.S.C. 5321(a)(5)(B)(i) Foreign Financial Agency Transaction-Non-Willful Violation of Transaction10,00016,117
31 U.S.C. 5321(a)(5)(C)(i)(I) Foreign Financial Agency Transaction-Willful Violation of Transaction100,000161,166
31 U.S.C. 5321(a)(6)(A) Negligent Violation by Financial Institution or Non-Financial Trade or Business5001,394
31 U.S.C. 5321(a)(6)(B) Pattern of Negligent Activity by Financial Institution or Non-Financial Trade or Business50,000108,489
31 U.S.C. 5321(a)(7) Violation of Certain Due Diligence Requirements, Prohibition on Correspondent Accounts for Shell Banks, and Special Measures1,000,0001,731,383
31 U.S.C. 5330(e) Civil Penalty for Failure To Register as Money Transmitting Business5,00010,289
31 U.S.C. 5336(h)(3)(A)(i) Civil Penalty for Beneficial Ownership Information Reporting Violation500591
31 U.S.C. 5336(h)(3)(B)(i) Civil Penalty for Unauthorized Disclosure or Use of Beneficial Ownership Information500591

31 C.F.R. §1010.821

81 FR 42505, June 30, 2016, as amended at 82 FR 10439, Feb. 10, 2017; 83 FR 11881, Mar. 19, 2018; 85 FR 9371, Feb. 19, 2020; 86 FR 7349, Jan. 28, 2020; 86 FR 7810, Feb. 2, 2021; 87 FR 3434, Jan. 24, 2022; 88 FR 3312, Jan. 19, 2023; 88 FR 7357, Feb. 3, 2023; 89 FR 4821, Jan. 25, 2024
81 FR 42505, 8/1/2016; as amended at 82 FR 10439, 2/10/2017; 83 FR 11881, 3/19/2018; 84 FR 51974, 10/1/2019; 84 FR 53053, 10/4/2019; 84 FR 54495, 10/10/2019; 85 FR 9371, 2/19/2020; 86 FR 7349, 1/28/2021; 86 FR 7810, 2/2/2021; 87 FR 3434, 1/24/2022; 88 FR 3312, 1/19/2023; 88 FR 7357, 2/3/2023; 89 FR 4821, 1/25/2024