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Weekly Roundup: FinCEN Fines Maine Woman, Report to Detail Ethiopia’s Corruption Losses, and More
printThe U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) fined a Westbrook, ME-based woman $12,500 Thursday for failing to register her money services business and for not implementing a Bank Secrecy Act program. Between January 2006 and October 2010, Sarith Meas acted as an independent money transmitter by collecting cash, checks and money orders from customers, which she then wired to associates in Cambodia that physically delivered the funds to the designated beneficiaries. Meas is believed to have executed over 100 funds transfers that totaled over two million dollars, FinCEN said. More The Financial Industry Regulatory Authority (Finra) Monday fined...
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