Results 1 to 5 of 5
  1. #1

    In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source

    NEW YORK, May 20, 2014 (Thomson Reuters Accelus) – Although investigators with Treasury’s anti-money laundering unit tried to identify a senior business leader at MoneyGram International Inc who could be penalized over the money transfer giant’s admitted compliance failures, available evidence left them only one viable target – the firm’s former chief compliance officer, a former official with firsthand knowledge of the investigation said.

  2. #2

    In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source

    The push by Treasury’s Financial Crimes Enforcement Network (FinCEN) to send a stern message to the financial services community by targeting one of its own with a large fine began roughly a year and a half ago due to pressure from Capitol Hill. FinCEN investigators eyed a number of current and former MoneyGram employees, but found that senior business leaders had not left an evidence trail to follow.

  3. #3

    In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source

    However, investigators uncovered “strong” evidence suggesting that former compliance chief Thomas Haider played a key role in the anti-money laundering compliance lapses MoneyGram conceded in 2012 as part of a settlement with the Justice Department, the source said.

  4. #4

    In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source

    The source, who is now in the private sector and asked not to be named, refused to describe the specific evidence against Haider, citing concern that doing so would violate federal law.
    Haider’s lawyer, Ian Comisky, a partner with Blank Rome in Philadelphia, did not respond to a request for comment.
    FinCEN previously declined to comment on the Haider matter.

  5. #5
    The decision to seek out someone at MoneyGram who could be held responsible for the firm’s compliance failures was handed down by FinCEN director Jennifer Shasky Calvery shortly after she assumed her post in September 2012, two former officials who were with the bureau at the time said.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •