Test Your AML IQ

The Financial Crimes Enforcement Network has issued ________ enforcement actions in 2014 to date.

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The correct answer is A.

The Financial Crimes Enforcement Network (FinCEN) has issued five enforcement actions in 2014 to date. This first enforcement action of the year was handed out to JPMorgan Chase on January 7 for failing to report suspicious transactions tied to Bernard L. Madoff's Ponzi scheme, which is considered to be the largest Ponzi scheme in U.S. history. The institution paid a $461 million penalty to FinCEN. The remaining enforcement actions were handed out to: Saleh H. Adam dba Adam Service, New Milenium Cash Exchange, Inc. and Flor Angella Lopez, Mian, Inc. d/b/a Tower Package Store and George Que.

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