Story perspectives

Brink's Settles $42M Over Anti-Money Laundering Failures

2/7/2025

42 9

Summary

Story summary

Brink's Global Services USA settled investigations with the DOJ and FinCEN regarding cross-border currency shipments from 2018-2020.
The company will pay $42 million over three years, including a $37 million civil penalty for Bank Secrecy Act violations.
Brink's acknowledged lapses in anti-money laundering controls, posing risks to the U.S. financial system.
The company has improved its compliance program and fully cooperated during the investigations.

History

Historical Context

Brink's Global Services’ $42 million settlement for Bank Secrecy Act violations echoes the 2008 financial crisis, which prompted stricter regulations. The Dodd-Frank Act aimed to enhance financial oversight, revealing ongoing compliance challenges. This incident underscores the persistent vulnerabilities in anti-money laundering systems within the financial sector.

1 of 2

Story summary

Brink's Global Services USA settled investigations with the DOJ and FinCEN regarding cross-border currency shipments from 2018-2020.
The company will pay $42 million over three years, including a $37 million civil penalty for Bank Secrecy Act violations.
Brink's acknowledged lapses in anti-money laundering controls, posing risks to the U.S. financial system.
The company has improved its compliance program and fully cooperated during the investigations.

1 / 2