The Financial Crimes Enforcement Network (FinCEN) has assessed Capital One $390 million in civil money penalties for violating the Bank Secrecy Act both willfully and negligently.
“Capital One’s egregious failures allowed known criminals to use and abuse our nation’s financial system unchecked, fostering criminal activity and allowing it to continue and flourish at the expense of victims and other citizens,” FinCEN Director Kenneth Blanco said.
For more details on the violations, read on.