He intentionally violated the bank secrecy law choosing to not implement and maintain an effective anti-money laundering program, and failing to report suspicious activities.
FinCEN further found that Mr. Harmon deliberately disregarded his obligations under the BSA and engaged in practices that allowed Helix to circumvent requirements under the law.
The agency noted that Mr. Harmon failed to collect and verify customers’ names, addresses, and other identifiers on over 1.2 million transactions. In fact, he “actively deleted even the minimal customer information” he collected.
“Mr. Harmon engaged in transactions with narcotics traffickers, counterfeiters, and fraudsters, as well as other criminals,” according to FinCEN.
The founder, owner, and operator of Helix and Coin Ninja, Larry Dean Harmon, has to cough up some $60 million after the Financial Crimes Enforcement Network (FinCEN) found