This was an interesting piece of news as I was reading how apparently a real estate company here called LeHomes has been fined $282,000 for apparently failing to report a suspicious transaction that was allegedly related to money laundering. What was really fascinating about this is that apparently this agency is run by the same company who also ran under the name New Coast Realty which had a multitude of legal issues as well in regards to these types of fines that made the news.
I can only guess that the reason for rebranding is because there was too much negative news about the agency after those incidents and so business wise it’s better to try and disassociate itself with those incidents. But by the looks of it here you could argue that the company hasn’t changed much ethically where you have to wonder if small fines ultimately do nothing to discourage say questionable business practices.
I already read how some people feel where if there is a business that is doing say something illegal but profitable then the fine would be like a small business expenses as the money they bring in for all the other activities that aren’t shutdown more than make up for it. If you were say the law maker here would you think a bigger fine would be the ideal solution or would you have to simply suspend the operator’s ability to run period? I can only imagine that it frustrates people who try and operate everything by the book.