FinCEN Issues $1.5 Million Civil Penalty on S. Dakota Kingdom Trust Company for AML Violations

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Friday, May 5, 2023
Author: 
Bruce Zagaris
Volume: 
39
Issue: 
5
Abstract: 

On April 26, 2023, the Financial Crimes Enforcement Network (FinCEN) and The Kingdom Trust Company (Kingdom Trust) entered into a consent order, imposing a civil money penalty and requiring Kingdom Trust to take actions to remediate its deficiencies.[1]