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#1916348 - 04/22/14 12:23 PM Compliance Officer and $5 million personal fine
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
"Thought some of you might find this interesting..."

When "Holding Executives Accountable" Hits Home

U.S. weighs $5 million fine against ex-MoneyGram compliance chief

At a Senate Banking Committee hearing in March 2013, David Cohen, Treasury's undersecretary for terrorism and financial intelligence, said FinCEN would "look for more opportunities" to issue penalties to "partners, directors, officers and employees" of financial institutions "who themselves actively participate in misconduct."

Guess they weren't kidding...
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#1916354 - 04/22/14 12:53 PM Re: Compliance Officer and $5 million personal fine Elwood P. Dowd
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,536
Pulling people out of the ditc...
oh goodness, and our BOL friend Dip now is doing compliance for them...
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#1916355 - 04/22/14 12:55 PM Re: Compliance Officer and $5 million personal fine Elwood P. Dowd
JWills, CRCM Offline
Diamond Poster
JWills, CRCM
Joined: May 2013
Posts: 1,758
The Mitten State
oh wow!
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Nonsense wakes up the brain cells.

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#1916375 - 04/22/14 01:44 PM Re: Compliance Officer and $5 million personal fine Elwood P. Dowd
ACBbank Offline
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,192
New York City
I've seen this song and dance before. I'll believe it when I see it. And no, I don't count the small penalty handed down to BBH's former AML Chief as substantial.
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"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

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#1916380 - 04/22/14 01:53 PM Re: Compliance Officer and $5 million personal fine ACBbank
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Didn't know about that...thanks.

BBH's former Global AML Compliance Officer Harold Crawford was also fined $25,000 and suspended for one month.

Ala FINRA
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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