The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed a USD 37,000,000 civil money penalty against Brink’s Global Services USA, Inc. for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. FinCEN said the case marks its first enforcement action against an armored car company and cited Brink’s role in transmitting hundreds of millions of dollars in bulk currency shipments across the Southwest Border on behalf of high-risk entities. Under the resolution, FinCEN found Brink’s willfully failed to register as a money services business, develop and maintain an effective anti-money laundering programme, and file suspicious activity reports. FinCEN linked the control failures to shipments for high-risk counterparties, including a Mexican currency exchanger that later pleaded guilty to violating the BSA, and noted coordination with the U.S. Attorney’s Office for the Southern District of California. In addition to the civil money penalty, Brink’s will be subject to an anti-money laundering programme review, with further details set out in the consent order.
Financial Crimes Enforcement Network 2025-02-06
Financial Crimes Enforcement Network fines Brink’s Global Services USA USD 37 million for willful Bank Secrecy Act violations
The Financial Crimes Enforcement Network (FinCEN) imposed a USD 37 million penalty on Brink’s Global Services USA, Inc. for willful violations of the Bank Secrecy Act, marking its first action against an armored car company. Brink’s failed to register as a money services business, maintain an effective anti-money laundering program, and file suspicious activity reports related to high-risk currency shipments. The resolution includes an anti-money laundering program review, coordinated with the U.S. Attorney’s Office for the Southern District of California.