MoneyGram's former chief compliance officer failed to overcome resistance by the firm's sales division against disciplining and terminating agents and outlets suspected of facilitating fraudulent transfers, according to a settlement filed in federal court Wednesday.
The U.S. Justice Department on Monday formally revised prosecutorial guidance to clarify that companies facing criminal investigations must turn over data on individual employees to receive credit for cooperation.
The United States Thursday fined a former chief compliance officer for MoneyGram $1 million for his alleged role in the company's 2012 violations of anti-money laundering laws.
A recent regulatory penalty citing a Brown Brothers Harriman executive made a compliance director at Bank of America wonder about his future personal liability, attendees of a business forum heard Tuesday.