Tag

#FinCEN

Outside the grading scale: Pre-Office Conduct

Trump Taj Mahal: $10 Million FinCEN Fine for Willful Anti-Money-Laundering Violations

FinCEN found that the Trump Taj Mahal willfully failed to implement an effective anti-money-laundering program, failed to report suspicious transactions, failed to properly file currency transaction reports and failed to keep required records; many of the violations from 2010 and 2012 had been found in earlier examinations, and examiners had cited problems since 2003. The casino admitted the violations. FinCEN had already penalized the Taj $477,700 in 1998, after the IRS found it broke the reporting rules 106 times in its first year and a half of operation in the early 1990s, when Trump owned it.