What is the consequence of not reporting a subsequent large cash transaction after the first violation?

In the context of financial regulation, specifically relating to money laundering and unauthorized transactions, significant penalties are imposed for failing to report large cash transactions, particularly when there is a previous violation. The correct answer highlights that fines can reach up to $1 million when subsequent violations occur. This reflects the seriousness with which regulatory bodies treat repeated offenses in transactional reporting.

Large cash transactions may indicate attempts to conceal illicit activities, thus necessitating strict compliance with reporting regulations. The substantial financial penalty serves as a deterrent to ensure that individuals and organizations adhere to the rules designed to prevent money laundering and other financial crimes.

Other penalties associated with violations may vary, but the imposition of fines is a widely primary method of enforcing compliance in financial regulations, making the possibility of incurring fines up to $1 million particularly significant in this scenario.