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On May 11, 2026, the Florida Office of Financial Regulation (OFR) entered a Final Order concluding enforcement proceedings against Kobtransfer LLC and Jean Alex St. Surin (Case Number 133239). The OFR, which administers and enforces Chapter 560, Florida Statutes, governing money services businesses, approved a Stipulation and Consent Agreement resolving violations identified during an examination covering April 1, 2023 through March 31, 2025. Kobtransfer LLC, licensed as a money transmitter under License Number FT23000368, and St. Surin, its sole owner and chief executive officer, were found to have committed multiple compliance violations. These included: failure to maintain customer property in segregated accounts at federally insured institutions; failure to maintain required financial institution statements; failure to renew Financial Crimes Enforcement Network (FinCEN) registration; failure to maintain complete money transmission logs; failure to maintain an effective anti-money laundering (AML) program; and failure to accurately block or flag Office of Foreign Assets Control (OFAC) transactions. Additional violations included failure to timely notify the OFR of vendor changes, bank account additions and removals, and personnel appointments; failure to maintain required net worth; and failure to submit an annual Financial Analysis Report for fiscal year 2024. Under the settlement agreement, Kobtransfer LLC voluntarily surrendered its money services business license effective upon entry of the Final Order. Both Kobtransfer LLC and St. Surin are prohibited from acting as affiliated parties of any money services business or applying for licensure under Chapter 560 for 15 years from the Final Order date. The respondents agreed to pay an administrative fine of $2,500.00 to the OFR.

On May 14, 2026, the Florida Office of Financial Regulation (OFR) issued a final order approving a stipulation and consent agreement with Kobtransfer, a licensed money transmitter. The agreement resolves numerous violations identified during an examination covering April 2023 through March 2025, including failures related to customer fund safeguarding, anti‑money laundering (AML) compliance, financial reporting and regulatory reporting under Chapter 560, Florida Statutes . Key findings of the OFR include: Failure to safeguard customer funds: The company did not place customer funds in a segregated account at a US Federal Deposit Insurance (FDIC)‑insured institution. AML program failures: Kobtransfer failed to maintain an effective AML program, did not ensure its system accurately blocked or flagged suspicious transactions and did not maintain a compliance officer. Financial reporting and audit failures: The company failed to obtain and submit an annual financial audit report (FAR) for fiscal year 2024 within 120 days, failed to maintain monthly bank statements for two accounts and failed to renew its US Financial Crimes Enforcement Network (FinCEN) money services business registration. Reporting and notification violations: Kobtransfer failed to timely report the addition or removal of bank accounts, the commencement of vendors and the appointments of its vice president and chief compliance officer; it also failed to prepare and maintain a list of agents as required by FinCEN. The OFR accepted the voluntary surrender of Kobtransfer’s money services business license. Kobtransfer is also barred from acting as an affiliated party of any money services business licensed or required to be licensed in Florida, and from applying for any license under Chapter 560 for a period of 15 years. The OFR also imposed an administrative fine of US$2,500.

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Florida Office of Financial Regulation Issues Final Order Against Kobtransfer LLC and Jean Alex St. Surin

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Florida Office of Financial Regulation Fines Kobtransfer US$2,500 for Anti-Money Laundering and Regulatory Reporting Violations