Brink’s Global Services USA, Inc.

The Financial Crimes Enforcement Network (FinCEN) has imposed a $37 million civil money penalty on Brink's Global Services USA, Inc. for willfully violating the Bank Secrecy Act and its implementing regulations. This Consent Order addresses Brink's failure to register as an MSB, maintain an effective AML program, and report suspicious transactions, highlighting significant risks to the US financial system. Main Purpose: To ensure compliance with the Bank Secrecy Act and its implementing regulations, particularly for money services businesses (MSBs) and currency transporters. Impact on Industry: This order highlights the importance of MSBs registering with FinCEN, maintaining effective AML programs, and reporting suspicious transactions to prevent illicit financial activity. Compliance Considerations: MSBs must ensure registration with FinCEN, implement effective AML programs, conduct periodic risk assessments, and report suspicious transactions accurately and timely.