- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
MoneyGram disclosed it expects to pay a total of $15.8 million to settle two separate investigations by the New York State Department of Financial Services and the Consumer Financial Protection Bureau.
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.
UBS Financial Services has been ordered to pay a $14.5 million civil penalty for willful violations of the Bank Secrecy Act, the Financial Crimes Enforcement Network announced on Dec. 17.
