By Aaron Nicodemus2024-02-01T14:18:00
Instead of using his expertise to build a small credit union’s Bank Secrecy Act compliance program, a New York-based BSA compliance officer facilitated more than $1 billion in high-risk international financial business through an “unsophisticated” institution, according to the Department of Justice (DOJ) and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
Gyanendra Asre pleaded guilty Wednesday in U.S. District Court for the Eastern District of New York to violating the BSA by failing to maintain an anti-money laundering (AML) program, the DOJ announced in a press release. He is scheduled to be sentenced May 3.
In a parallel action, FinCEN fined Asre $100,000 and banned him from serving at any institution covered by the BSA for five years.
2024-09-03T13:47:00Z By Ian Sherr
New Compliance Week Editor-In-Chief Ian Sherr shares his thoughts on where compliance is headed as businesses meet the realities of not just following the rules, but staying ahead of the pace of regulatory change at a global scale.
2024-04-05T15:49:00Z By Jeff Dale
A New York-based chief counsel and compliance officer was charged for embezzling more than $200,000 from the consulting firm he worked for, the Manhattan District Attorney’s Office announced.
2024-02-01T18:32:00Z By Jeff Dale
The Office of the Comptroller of the Currency levied a $65 million civil penalty against Los Angeles-based City National Bank over alleged risk management and internal control failures.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
Site powered by Webvision Cloud