The US Financial Crimes Enforcement Network (FinCEN) and the US Attorney’s Office for the Southern District of New York have settled claims under the Bank Secrecy Act (BSA) against Thomas Haider, the former Chief Compliance Officer of MoneyGram International.

Haider has agreed to a three-year injunction barring him from performing a compliance function for any money transmitter and has agreed to pay a $250,000 penalty. He has also admitted responsibility for the following, among other things:

• failing to close specific MoneyGram outlets after being presented with information that strongly indicated that they were complicit in consumer fraud schemes;
• failing to implement a policy for closing them; and n structuring MoneyGram’s anti-money laundering programme properly.