By
Aaron Nicodemus2025-02-07T17:09:00
Armored car company Brink’s Global Services will pay $42 million in penalties to settle charges laid by federal regulators for violating anti-money laundering (AML) provisions of the Bank Secrecy Act (BSA).
The Department of Justice entered into a non-prosecution agreement (NPA) with Brink’s to settle allegations that it operated as an unlicensed money transmitting business for two years, the DOJ announced Thursday. The agency noted the deal is the first of its kind with an armored car company for failing to register with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
As part of a joint agreement, Brink’s will pay $20 million to the DOJ, and another $17 million to FinCEN, which announced its portion of the settlement Thursday.
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The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
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The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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Three Mexican financial institutions will be barred from transacting with U.S.-based banks after a U.S. Treasury agency determined that the institutions allowed their networks to aid the illegal fentanyl trade of Mexican criminal organizations.
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The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
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Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
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