Issued by FDIC
Sec. 1010.821 Penalty adjustment and table.
Revised February 19, 2020.
(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.
|U.S. Code Citation||Civil monetary penalty description||Penalties as last amended by statute||New Maximum Penalty Amounts or Range of Minimum and Maximum Penalty Amounts for penalties assessed on or after 2/19/2020|
|12 U.S.C. 1829(j)||Relating to Recordkeeping Violations for Funds Transfers||$10,000||$21,410|
|12 U.S.C. 1955||Willful or Grossly Negligent Recordkeeping Violations||$10,000||$21,210|
|31 U.S.C. 5318(k)(3)(C)||Failure to Terminate Correspondent Relationship with Foreign Bank||$10,000||$14,482|
|31 U.S.C. 5321(a)(1)||General Civil Penalty Provision for Willful Violations of Banks Secrecy Act Requirements||$25,000 - $100,000||$58,328 - $233,313|
|31 U.S.C. 5321(a)(5)(B)(i)||Foreign Financial Agency Transaction -- Non-Willful Violation of Transaction||$10,000||$13,481|
|31 U.S.C. 5321(a)(5)(C)(i)(I)||Foreign Financial Agency Transaction -- Willful Violation of Transaction||$100,000||$134,806|
|31 U.S.C. 5321(a)(6)(A)||Negligent Violation by Financial Institution or Non-Financial Trade or Business||$500||$1,166|
|31 U.S.C. 5321(a)(6)(B)||Pattern of Negligent Activity by Financial Institution or Non-Financial Trade or Business||$50,000||$90,743|
|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||$1,448,191|
|31 U.S.C. 5330(e)||Civil Penalty for Failure to Register as Money Transmitting Business||$5,000||$8,606|