BPI Shuts Down its MSB Operation After Money Laundering Investigation

See International Financial Law Prof Blog: The Financial Crimes Enforcement Network (FinCEN) today imposed a civil money penalty of $125,000 against BPI, Inc., a New Jersey money services business (MSB), for willful and repeated violations of the Bank Secrecy Act (BSA).  In November 2013, BPI’s parent, Banco BPI, S.A., ceased BPI's operations as an MSB ... read the full story at the Law Professor Blog Network International Financial Law Prof Blog