Posted By: Elwood P. Dowd
Compliance Officer and $5 million personal fine - 04/22/14 12:23 PM
"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...
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...