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Last amendment: Correction notice (C1-2023-00943, 88 FR 7357) revised certain penalty amounts in Table 1 of § 1010.821; authoritative corrected values supersede the January 19 publication. on 2023-02-03.
Under the Federal Civil Penalties Inflation Adjustment Act of 1990 (28 U.S.C. 2461 note), as strengthened by the 2015 Improvements Act, all federal agencies must publish annual inflation-adjusted civil monetary penalty (CMP) amounts. FinCEN calculates its adjustment using the October-to-October change in the Consumer Price Index for All Urban Consumers (CPI-U). For 2023, OMB Memorandum M-23-05 (December 15, 2022) set the adjustment multiplier at 1.07745, reflecting the Oct 2021 → Oct 2022 interval (7.745% CPI-U increase).
The adjusted amounts are codified in 31 CFR § 1010.821 and replace the statutory baseline figures. These maximum amounts do not cap total penalty exposure for continuing per-day violations; they set the per-violation ceiling. The rule is issued as a final rule effective upon publication, without notice-and-comment under the good-cause exemption because the adjustment formula is non-discretionary.
A correction notice (FR Doc C1-2023-00943, 88 FR 7357, Feb. 3, 2023) revised certain amounts in the original Table 1; the CFR edition incorporates both the original and correction, and the corrected values govern.
| U.S. Code | Penalty description | Statutory baseline | 2023 adjusted max |
|---|---|---|---|
| 12 U.S.C. 1829b(j) | Recordkeeping violations for funds transfers | $10,000 | $24,793 |
| 12 U.S.C. 1955 | Willful or grossly negligent recordkeeping | $10,000 | $24,793 |
| 31 U.S.C. 5318(k)(3)(C) | Failure to terminate correspondent relationship with foreign bank | $10,000 | $16,771 |
| 31 U.S.C. 5321(a)(1) | General civil penalty for willful BSA violations | $25,000–$100,000 | $67,544–$270,180 |
| 31 U.S.C. 5321(a)(5)(B)(i) | Foreign financial agency transaction — non-willful | $10,000 | $15,611 |
| 31 U.S.C. 5321(a)(5)(C)(i)(I) | Foreign financial agency transaction — willful | $100,000 | $156,107 |
| 31 U.S.C. 5321(a)(6)(A) | Negligent violation by financial institution or non-financial trade or business | $500 | $1,350 |
| 31 U.S.C. 5321(a)(6)(B) | Pattern of negligent activity | $50,000 | $105,083 |
| 31 U.S.C. 5321(a)(7) | Due diligence, correspondent accounts, and special measures violations | $1,000,000 | $1,677,030 |
| 31 U.S.C. 5330(e) | Failure to register as money transmitting business | $5,000 | $9,966 |
Note: The 2023 table predates the Corporate Transparency Act's BOI reporting rule (effective January 1, 2024); the § 5336(h)(3) BOI penalties first appear in the 2024 adjustment table (2024-01-25-us-fincen-bsa-civil-penalty-inflation-adjustment-2024).
MSBs, and non-financial trades/businesses calibrate compliance budgets to these figures through year-end 2023.
is the key reference figure for BSA enforcement negotiations and consent orders in 2023.
Improvements Act reset — reflecting the elevated Oct 2021–Oct 2022 CPI-U print driven by post-COVID supply-chain inflation; subsequent years return to lower multipliers.
underlying statutory baselines.
source inaccessible from this VPS for direct comparison; the CFR table incorporates both).