Thomas Haider, former chief compliance officer at Moneygram, won’t be on anyone’s AML Compliance payroll for the next three years—and his wallet is also a quarter-million dollars lighter. The terms of Haider’s settlement with FinCEN were announced yesterday. In a case closely watched by the Compliance industry, FinCEN announced yesterday that Thomas Haider has agreed […]

Individuals can be held liable for anti-money laundering (AML) control failures under the Bank Secrecy Act (BSA), a United States District Court in Minnesota has ruled. More specifically, the Court noted that BSA civil penalties provision section 5321(a)(1), by its plain language, and absent specific exceptions, subjects individual corporate officers and employees to the imposition […]