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Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.1010.821 Penalty adjustment and table

Current as of January 02, 2025 | Updated by Findlaw Staff

(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 § 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 28, 2021

12 U.S.C. 1829b(j)

Relating to Recordkeeping Violations For Funds Transfers

$10,000

$21,663

12 U.S.C. 1955

Willful or Grossly Negligent Recordkeeping Violations

10,000

21,663

31 U.S.C. 5318(k)(3)(C)

Failure to Terminate Correspondent Relationship with Foreign Bank

10,000

14,653

31 U.S.C. 5321(a)(1)

General Civil Penalty Provision for Willful Violations of Bank Secrecy Act Requirements

25,000-100,000

59,017-236,071

31 U.S.C. 5321(a)(5)(B)(i)

Foreign Financial Agency Transaction—Non-Willful Violation of Transaction

10,000

13,640

31 U.S.C. 5321(a)(5)(C)(i)(I)

Foreign Financial Agency Transaction—Willful Violation of Transaction

100,000

136,399

31 U.S.C. 5321(a)(6)(A)

Negligent Violation by Financial Institution or Non-Financial Trade or Business

500

1,180

31 U.S.C. 5321(a)(6)(B)

Pattern of Negligent Activity by Financial Institution or Non-Financial Trade or Business

50,000

91,816

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

1,465,309

31 U.S.C. 5330(e)

Civil Penalty for Failure to Register as Money Transmitting Business

5,000

8,708
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Cite this article: FindLaw.com - Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.1010.821 Penalty adjustment and table - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-31-money-and-finance-treasury/cfr-sect-31-1010-821/

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