Under the Bank Secrecy Act (BSA), 31 U.S.C. 5311 et seq., and its implementing regulations at 31 C.F.R. Chapter X (formerly 31 C.F.R. Part 103), FinCEN may bring an enforcement action for violations of the reporting, recordkeeping, or other requirements of the BSA. FinCEN's Office of Enforcement evaluates enforcement matters
IR-2025-119, Dec. 9, 2025 — The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-05 providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill.
WASHINGTON—The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has assessed a $3,500,000 civil money penalty against Paxful, Inc. and Paxful USA, Inc. (collectively, Paxful) for willful violations of the Bank Secrecy Act (BSA), the primary U.S. anti-money laundering law that safeguards the financial system from illicit use. Paxful,