- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
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MoneyGram International stated in a regulatory filing it has fulfilled its obligations under a DPA it entered with the Department of Justice eight years ago, and its AML program was given a thumbs-up by its compliance monitor.
MoneyGram on Nov. 8 entered into agreements with the U.S. Department of Justice and the Federal Trade Commission concerning previously disclosed compliance failures that resulted in a widespread money-laundering fraud scheme.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
