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Former MoneyGram compliance officer pays $250K for AML failures

Jaclyn Jaeger | May 8, 2017

The former chief compliance officer for MoneyGram International has agreed to a three-year injunction barring him from performing a compliance function for any money transmitter and has agreed to pay a $250,000 penalty for anti-money laundering failures.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and the U.S. Attorney’s Office for the Southern District of New York announced the settlement on May 4.

As part of the settlement, Thomas Haider, former chief compliance officer for MoneyGram International, has admitted, acknowledged, and accepted responsibility for the following, among other things:  

  • Failing to terminate specific MoneyGram outlets after being presented with information that strongly indicated that the outlets were complicit in consumer fraud schemes;
  • Failing to...
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