Brink's Global Services USA fined US$37m for bulk cash shipments absent effective AML

Not registering as a money service business (MSB) between around 7 October 2018 and 22 October 2020; instead, wilfully erroneously relying on an exemption from FinCEN's anti-money laundering requirement for currency transporters, such as armoured car companies, that applies to "wholly domestic" physical cash movements from/to a "currency originator" to/from their account at a financial institution, has cost Brink's Global Services USA, Inc a US$37 million civil money penalty from the US Department of the Treasury: US$20 million is offset against a US$50.4m forfeiture, imposed for failing to register as an MSB under a non-prosecution agreement with the Department of Justice.

Not registering as a money service business (MSB) between around 7 October 2018 and 22 October 2020; instead, wilfully erroneously relying on an exemption from FinCEN's anti-money laundering requirement for currency transporters, such as armoured car companies, that applies to "wholly domestic" physical cash movements from/to a "currency originator" to/from their account at a financial institution (FI), has cost Brink's Global Services USA, Inc (Brink's GS) a US$37 million civil money penalty (CMP) from the US Department of the Treasury [1]: US$20 million is offset against a US$50.4m forfeiture, imposed for failing to register as an MSB under a non-prosecution agreement (NPA) with the Department of Justice. [2]