Regulatory Alerts2024-01-31 | 2024-01Added
Consent Order Imposing Civil Money Penalty on Gyanendra Kumar Asre
FinCEN imposes a civil money penalty on Gyanendra Kumar Asre for willful violations of the Bank Secrecy Act related to his roles at NYSEFCU and DDH. Asre failed to register DDH as a money services business and willfully failed to implement an effective anti-money laundering program at NYSEFCU, including adequate internal controls, customer due diligence, and staff training. These failures facilitated the processing of over $150 million in bulk cash and $110 million in checks for Mexican banks without proper oversight.
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