The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has fined Brink’s Global Services USA, Inc., an armored car company, $37 million for violating the Bank Secrecy Act (BSA). The BSA is a key law that aims to prevent money laundering in the US financial system. Brink’s failed to register as a money services business and implement adequate anti-money laundering controls, exposing hundreds of millions of dollars in bulk currency shipments to be transmitted across the Southwest Border. This is FinCEN’s first enforcement action against an armored car company. The agency praises its close collaboration with the US Attorney’s Office for the Southern District of California on this matter. As a result, Brink’s will face significant penalties, including a civil money penalty and an AML program review.
Source: https://www.fincen.gov/news/news-releases/fincen-announces-37000000-civil-money-penalty-against-brinks-global-services-usa