- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
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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.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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