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Weekly Roundup: FinCEN Fines Oregon Remitter, Bahrain Prosecutes Bankers, and More
printU.S. financial regulators separately fined two individuals this week for Bank Secrecy Act violations in their businesses. On Thursday, the Office of Thrift Supervision (OTS) penalized the former head of the now defunct Pamrapo Savings Bank $125,000 for knowingly ignoring compliance troubles at the New Jersey institution. More The fine was preceded by a $25,000 penalty disclosed Monday by the Treasury Department's Financial Crimes Enforcement Network (FinCEN) against Victor Kaganov of Tigard, OR. Kaganov ran an unlicensed, illegal money remittance service out of his home that helped transmit more than $172 million, at times to and from jurisdictions deemed high-risks...
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