(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 of section 1010.821—Penalty adjustment
table
Table 1 of section
1010.821—Penalty adjustment table
| U.S. Code citation |
Civil monetary penalty description |
Penalties
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 violations |
10,000 |
25,597 |
| 31
U.S.C. 5318(k)(3)(C) |
Failure
to terminate correspondent relationship with foreign bank |
10,000 |
17,315 |
| 31
U.S.C. 5321(a)(1) |
General
civil penalty provision for willful violations of Bank Secrecy Act
requirements |
25,000–100,000 |
69,733–278,937 |
| 31
U.S.C. 5321(a)(5)(B)(i) |
Foreign
financial agency transaction—Non-willful violation of transaction |
10,000 |
16,117 |
| 31
U.S.C. 5321(a)(5)(C)(i)(I) |
Foreign
financial agency transaction—Willful violation of transaction |
100,000 |
161,166 |
| 31
U.S.C. 5321(a)(6)(A) |
Negligent
violation by financial institution or non-financial trade or business |
500 |
1,394 |
| 31 U.S.C. 5321(a)(6)(B) |
Pattern of negligent activity by financial
institution or non-financial trade or business |
50,000 |
108,489 |
| 31
U.S.C. 5321(a)(7) |
Violation
of certain due diligence requirements, prohibition on correspondent
accounts for shell banks, and special measures |
1,000,000 |
1,731,383 |
| 31
U.S.C. 5330(e) |
Civil
penalty for failure to register as money transmitting business |
5,000 |
10,289 |
| 31 U.S.C. 5336(h)(3)(A)(i) |
Civil penalty for beneficial ownership information
reporting violation |
500 |
591 |
| 31 U.S.C. 5336(h)(3)(B)(i) |
Civil penalty for unauthorized disclosure or use
of beneficial ownership information |
500 |
591 |
