DOJ's Tough Approach To Anti-Money Laundering Compliance

Law360, New York (November 14, 2012, 6:02 PM EST) -- On Nov. 9, 2012, the U.S. Department of Justice announced that MoneyGram International Inc., a global money services business headquartered in Dallas, had agreed to forfeit $100 million and enter a deferred prosecution agreement in which the company admitted to criminally aiding and abetting wire fraud and failing to maintain an effective anti-money laundering ("AML") program. The agreement also includes the imposition of enhanced compliance obligations and structural changes to MoneyGram's internal monitoring systems.

This disposition is noteworthy because it is indicative of the DOJ's focus...
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