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Financial Crimes Enforcement Network; Inflation Adjustment of Civil Monetary Penalties; Correction

aml-bsa-fincen · FinCEN · Rule · Published 2019-10-01 · Effective 2019-10-01 · 84 FR 51973

Document

Document number
2019-21156
Federal Register citation
84 FR 51973
CFR reference
31 CFR 1010
Type
Rule
Action
Correcting amendments.
Category
aml-bsa-fincen
Sub-agency
FinCEN
Publication date
2019-10-01
Effective date
2019-10-01

Abstract

On March 19, 2018, FinCEN published a final rule to make the 2018 annual adjustment to its civil monetary penalties ("CMPs") for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (collectively referred to herein as "the Act"). The final rule adjusted CMPs within the jurisdiction of FinCEN to the maximum amount required by the Act for 2018. However, that final rule inadvertently used the 2017 annual adjustment penalty assessment dates in the penalty adjustment table, as opposed to using the 2018 annual adjustment penalty assessment dates. This document corrects the penalty assessment dates in the penalty adjustment table for the 2018 annual adjustment.

Source

Authoritative
Federal Register document
Machine
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