You've been redirected from MobilePaymentsToday.com to PaymentsDive.com. In March 2021, Mobile Payments Today became a part of Payments Dive. For the latest payments news, sign up for the daily newsletter.

Capital One fined $390M

The Financial Crimes Enforcement Network has enforced a $390 million civil penalty fine on Capital One for engaging in violations of the Bank Secrecy Act. The violations caused millions of dollars in suspicious transactions to go unreported at Capital One's Check Cashing Group from at least 2008 through 2014 according to a report in Finextra

Capital One acknowledged its failings and has since shut down the network and undertaken substantial remediation efforts.