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FinCEN Assesses $3.5 Million Penalty Against Paxful for Facilitating Suspicious Activity Involving Illicit Actors
→ Paxful USA, Inc.
FinCEN has assessed a $3.5 million civil money penalty against Paxful for willful violations of the Bank Secrecy Act, facilitating over $500 million in suspicious activity involving illicit actors. Paxful admitted to failing to register as a money services business and to implement an effective anti-money laundering program.
Amount (EUR)
€3,225,000
Original currency
$3,500,000
Action date
2025-12-09
Authority
Financial Crimes Enforcement Network (FinCEN)
Country
United States
Primary source:
https://www.fincen.gov/news/news-releases/fincen-assesses-35-million-penalty-against-paxful-facilitating-suspicious ↗
https://www.fincen.gov/news/news-releases/fincen-assesses-35-million-penalty-against-paxful-facilitating-suspicious ↗
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