BSA failures lead to $42M fine for Brink's over unregistered cash shipments to Mexico
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.
Related articles
-
News BriefFinCEN again delays U.S. ban on three Mexican financial institutions
The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
-
PremiumThanks to 'laser focus' on cartels, Trump admin creates new corporate risks in Mexico
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.
-
News BriefFinCEN bars three Mexican financial institutions for aiding cartels in fentanyl trade
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.
More from Regulatory Enforcement
-
News BriefDOJ, SEC charge owner of Pennsylvania companies of running $770M Ponzi scheme
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
-
ArticleDisney hit with $10M FTC fine for allegedly collecting children’s data
The Federal Trade Commission (FTC) proposed an enforcement action against Disney for allegedly collecting personal information about children, and then threw salt in the wound by calling the company out in an alert emailed to an untold number of businesses.
-
PremiumU.K. prepares to prosecute firms under new Failure to Prevent Fraud rules
The U.K. will start cracking down on companies under the new Failure to Prevent Fraud law on Sept. 1, with the Crown Prosecution Service and Serious Fraud Office ready to enforce it.