In a joint statement, the CFTC, FinCEN and the SEC reminded those engaged in digital asset transactions to comply with anti-money laundering and countering the financing of terrorism obligations under the Bank Secrecy Act.
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A broker-dealer (the "Firm") agreed to pay $14.5 million to settle allegations by FinCEN, FINRA and the SEC of deficiencies in its anti-money laundering ("AML") program. According to FINRA, the Firm allegedly failed to establish and implement AML programs designed to monitor specific high-risk transactions in customer accounts, including foreign currency wire transfers and transactions in "penny stocks." According to FinCEN, the Firm failed to develop and implement a risk-based AML program associated with accounts that included both traditional brokerage and banking-like services. In addition