The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has announced the issuance of a final rule to reflect annual inflation adjustments to its civil monetary penalties within the jurisdiction of FinCEN, which was published in the Federal Register on 25 January 2024. This includes penalties in relation to violations of the foreign bank and financial accounts (FBAR) reporting requirement as well as the new beneficial ownership information (BOI) reporting requirements t…