What are the actual penalties for BSA/AML violations by a foreign-owned LLC?
I have been reading about BSA and AML requirements and the penalties sound terrifying. My foreign-owned LLC is a small online business making about $100,000 per year. What are the realistic penalties if I accidentally violate a BSA/AML rule? Are the penalties different for willful vs accidental violations? Can they really put me in prison for a paperwork mistake? I want to understand the actual risk level so I know how much to invest in compliance.
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