Money services business penalized for repeated AML deficiencies
The Financial Crimes Enforcement Network (FinCEN) announced Tuesday its assessment of a civil penalty against Georgia-based Mian, Inc. for violating the Bank Secrecy Act’s program and reporting requirements.
Mian, a money services business (MSB), committed numerous violations even after being put on notice by the Internal Revenue Service’s that it had deficiencies in meeting its reporting obligations.