Finance & markets · 01/10/2019

FinCEN Corrects Inflation Adjustment of Civil Monetary Penalties

The Financial Crimes Enforcement Network (FinCEN) has corrected a final rule that incorrectly used 2017 penalty assessment dates for the 2018 inflation adjustment of civil monetary penalties (CMPs). The correction ensures that CMPs are adjusted to the maximum amount required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.