In a decision that sent shock wave across the financial industry and other regulatory industries, the Financial Crimes Enforcement Network (FinCEN) has personally fined $1 million civil money penalty (CMP) against the ex-compliance officer of MoneyGram, Mr. Thomas E. Haider.  Mr.  Haider failed to ensure that his company abided by the Anti-Money Laundering (AML) provisions of the Bank Secrecy Act (BSA).

With increasing pressure on Compliance Officers ComplianceAid reiterate its advice to owners and board of directors to implement proper AML Programs and include an AML adviser on their board of directors.

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