TITLE: Florida Office of Financial Regulation Settles Enforcement Action Against Las Tres Banderas Money Services Business
BODY:
On February 25, 2026, the Florida Office of Financial Regulation (OFR) entered a Final Order approving a Stipulation and Consent Agreement with Las Tres Banderas 3 Inc, operating as Las Tres Banderas 4, Las Tres Banderas 6, and Las Tres Banderas 7, along with individual owners Pedro Espana and Heidy Espana (Case Number 132192). The settlement resolves compliance violations identified during an examination covering January 1, 2023, through December 31, 2024.
Las Tres Banderas 3 Inc is a Part III Money Services Business licensed under Florida Statutes Chapter 560, with Pedro Espana serving as Chief Executive Officer, Compliance Officer, and 50 percent owner, and Heidy Espana as 50 percent owner. The OFR identified eight categories of violations, including failure to provide customers with toll-free contact information or the OFR's address and telephone number; failure to implement and maintain an adequate anti-money laundering (AML) program; failure to conduct annual AML training and independent reviews; failure to maintain records of customer identification; inaccurate or untimely entries into the Check Cashing Database; failure to timely report changes in bank information; failure to accurately or timely file Currency Transaction Reports; and failure to maintain copies of payment instruments.
Under the settlement terms, the respondents agreed to pay an administrative fine of $28,875.00 and to cease and desist from future violations of Chapter 560, Florida Statutes. The respondents waived their right to an administrative hearing and appeal. The Final Order incorporates all terms of the Stipulation and Consent Agreement and constitutes final agency action.